US Plains HRW Wheat-Gulf basis and protein premiums rise

CHICAGO, Oct 30 (Reuters) - Basis bids for hard red winter (HRW) wheat improved at the U.S. Gulf export terminal while protein premiums rose for certain wheat grades, often a sign of demand from domestic flour millers, spot checks showed.

• The track basis for railcars of wheat at the Gulf rose to 115 cents over K.C. December KWZ25 HRW wheat futures, up from 100 cents over futures last week.

• Premiums for HRW wheat shipped by rail to or through Kansas City rose by 11 cents a bushel for wheat with 11.8% through 12.4% protein. A day earlier, premiums jumped by 10 to 15 cents a bushel for all protein grades. KCBT/SCA

• Flour millers have been seeking to buy wheat at a time when Plains farmers are busy finishing up the autumn corn harvest and planting the 2026 winter wheat crop, one broker said.

• Meanwhile, drought conditions receded in Kansas and Oklahoma in the week ended October 28, the latest U.S. Drought Monitor showed on Thursday, following rains in the region.

• K.C. December hard red winter wheat KWZ25 settled down 9-3/4 cents on Thursday at $5.13 a bushel, pressured by ample global supplies and a lack of supportive news.

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