US Plains HRW Wheat-Basis flat, beneficial rains in forecast

CHICAGO, Nov 19 (Reuters) - Basis bids for hard red winter wheat were unchanged at grain elevators in the southern U.S. Plains on Wednesday and protein premiums held steady as wheat futures declined.

• Producers have nearly finished seeding the 2026 winter wheat crop and were waiting for rains in the southern Plains late this week that should help boost early growth.

• Showers starting on Thursday could produce 1 to 3 inches (25 to 76 mm) of rain or more, the U.S. Department of Agriculture said in a daily weather note.

• Market players await export sales data from the USDA that was suspended during the government shutdown. Ahead of Thursday's export sales report, which will cover the week ended October 2, traders estimated wheat export sales of 350,000 to 600,000 metric tons.

• The USDA has planned to release back-dated export sales reports twice a week through the end of the year to get caught up.

• K.C. December hard red winter wheat KWZ25 futures settled down 10-3/4 cents on Wednesday at $5.15-1/2 per bushel.

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