US Plains HRW Wheat-Protein premiums firm; farmers wait for rain

CHICAGO, Oct 15 (Reuters) - Basis bids for hard red winter (HRW) wheat held steady at elevators in the southern U.S. Plains on Wednesday while protein premiums improved for a few grades as domestic flour mills worked to draw out fresh supplies, grain dealers said.

• Protein premiums for railcar HRW wheat to and through Kansas City rose by 5 cents a bushel for "ordinary" wheat with less than 11.0% protein as well as 11.0% and 11.20% protein wheat. Premiums for higher grades of wheat were unchanged. KCBT/SCA

• Much-needed rain fell in parts of central Oklahoma in the past day and forecasts called for more showers late this week that should help recharge soil moisture.

• Some producers were waiting for the rains before they resume planting winter wheat for harvest in 2026, and Oklahoma merchandiser said.

• K.C. December hard red winter wheat KWZ25 futures settled down 1/4 cent on Wednesday at $4.88-1/4 per bushel but stayed above a contract low set on Tuesday at $4.77-1/4.

• Ample global wheat supplies continue to hang over the market, capping rallies.

• Meanwhile, the ongoing U.S. government shutdown has deprived traders of key data on exports, demand and harvest progress, making investors wary of making big moves in the market and keeping prices largely range-bound.

Basis values are quoted against futures in cts/bu:

NOTES:

H = March, K = May, N = July, U = September

Z = December; UNQ = Unquoted bids

0 = Sp Option price; NC = No comparison

= No. 1 12% hard winter wheat, rail bids

= Ordinary protein, rail bids

LINKS:

K.C. HRW wheat protein scales KCBT/SCA

U.S. weekly wheat crop progress US/WHE

U.S. forward basis WHEAT/BASIS

U.S. Midwest cash grain PM GRA/PM

U.S. FOB Gulf Grain GRA/F