US Plains HRW Wheat-Basis bids mostly steady on lower futures, slow farmer sales

CHICAGO, Dec 1 (Reuters) - Spot basis bids for hard red winter wheat were mostly unchanged around the U.S. Plains on Monday as futures prices eased and farmer selling remained light, grain merchants said.

• Wheat futures on the Chicago Board of Trade slid lower on Monday, pressured by ample global supplies and expectations for large harvests in the southern hemisphere.

• Farmers have recently finished planting the winter wheat that they will be harvesting in 2026. Many growers continue to store supplies from their 2025 harvest as they await higher prices, dealers said.

• The U.S. Department of Agriculture reported net U.S. wheat export sales in the week ending October 23 at 499,900 metric tons, including 175,100 tons of HRW wheat. The sales were in line with analyst estimates.

• K.C. March hard red winter wheat KWH26 futures were down 1-1/2 cents near the close on Monday at $5.26 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