US Plains HRW Wheat-Basis flat as wheat futures slump ahead of holiday

CHICAGO, Dec 31 (Reuters) - Basis bids for hard red winter (HRW) wheat held steady in the southern U.S. Plains on Wednesday, spot checks showed, while slumping K.C. wheat futures discouraged farmer grain sales heading into the New Year's Day holiday.

• K.C. HRW wheat futures fell for a fourth straight session, with the benchmark March contract KWH26 settling down 7-1/4 cents at $5.14-3/4 a bushel. GRA/

• U.S. markets and most government offices will be closed on Thursday, January 1.

• The U.S. Department of Agriculture reported net export sales of U.S. 2025-26 wheat in the week ended December 18 at 147,800 metric tons, toward the low end of trade expectations. The tally included net cancellations of 128,400 tons of white wheat that had been booked by China.

• Net sales of HRW wheat for the week totaled 165,600 tons, USDA data showed, with Japan and Mexico the week's top buyers. EXP/WHE

• Protein premiums for railcar HRW wheat to and through Kansas City fell by 5 cents a bushel for wheat with 11.0% through 11.6% protein, and for "ordinary" wheat with less than 11.0% protein. Premiums for other grades were unchanged. KCBT/SCA

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