US Plains HRW Wheat-Basis bids flat as futures dive

ReutersFeb 23, 2026 11:14 PM

CHICAGO, Feb 23 (Reuters) - Basis bids for hard red winter wheat were steady in a spot check of locations in the U.S. Plains on Monday, as futures fell.

Precipitation in the coming weeks is expected to bring some relief to the driest quarter of the Southwest Plains wheat crop, according to Commodity Weather Group.
Protein premiums for wheat shipped by rail to and through Kansas City fell 5 cents for wheat with 12.6% protein. They fell 2 cents for wheat with 12.8% and 13% protein content, and were unchanged for all other grades of wheat. KCBT/SCA
K.C. March hard red winter wheat KWH26 fell 12-1/4 cents to $5.60 per bushel.

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-57	+	H	-57	+	H	$5.03
Newton	-82	+	H	-82	+	H	$4.78
Goodland	-90	+	H	-90	+	H	$4.70

TEXAS
Gulf track*	+125	+	H	+125	+	H	$6.85
Galveston	+100	+	H	+110	+	H	$6.60

OKLAHOMA
Enid	-30	+	H	-30	+	H	$5.30
Catoosa	+15	+	H	+15	+	H	$5.75

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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