US Plains HRW Wheat-Basis bids flat in slow trade

CHICAGO, Jan 5 (Reuters) - Basis bids for hard red winter wheat were unchanged in the U.S. Plains on Monday as farmer selling was slow despite a jump in futures prices, merchandisers said.

• Some farmers are waiting for futures prices to stabilize before selling old-crop wheat, a merchandiser said.

• Swathes of winter wheat in the U.S. Plains are too dry, an analyst note said.

• The U.S. Department of Agriculture is scheduled on January 12 to release its first estimate of how much winter wheat was planted by U.S. farmers for harvest in 2026.

• K.C. HRW wheat futures March contract KWH26 was last up 9-1/2 cents to $5.24-1/2 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