US Plains HRW Wheat-Basis steady; dryness, mild temperatures eyed

ReutersDec 29, 2025 11:35 PM

CHICAGO, Dec 29 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were quietly steady in the southern U.S. Plains on Monday and protein premiums for railcar wheat to or through Kansas City were unchanged.

Soil moisture is lacking in portions of the southern Plains wheat belt and forecasts showed no significant relief in the next two weeks, the Commodity Weather Group said in a client note.
However, temperatures have been mild, minimizing the risk of any freeze damage to the dormant winter wheat crop.
K.C. March hard red winter wheat futures KWH26 settled down 6-1/4 cents on Monday at $5.27-1/4 a bushel as traders assessed the impact of weekend talks between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump on ending the war in Ukraine.

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-60	+	H	-60	+	H	$4.67
Newton	-85	+	H	-85	+	H	$4.42
Goodland	-90	+	H	-90	+	H	$4.37

TEXAS
Gulf track*	+125	+	H	+125	+	H	$6.52
Galveston	+105	+	H	+105	+	H	$6.32

OKLAHOMA
Enid	-40	+	H	-40	+	H	$4.87
Catoosa	-20	+	H	-20	+	H	$5.07

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

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