US Plains HRW Wheat-Basis bids flat as rains aid winter wheat

ReutersFeb 26, 2026 6:36 PM

CHICAGO, Feb 26 (Reuters) - Basis bids for hard red winter wheat were unchanged in the U.S. Plains states on Thursday as farmers and traders eyed rain prospects next week that would relieve dryness in the winter wheat belt.

Warmer weather is expected to aid growth.
The winter wheat crop is expected to emerge from dormancy soon.
Roughly 50% of the U.S. winter wheat crop is experiencing some level of drought, up from 46% last week, according to the U.S. Department of Agriculture.
K.C. May hard red winter wheat KWK26 was last down 1-1/2 cents to $5.62-3/4 per bushel as of midday.

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-57	+	H	-57	+	H	$5.06
Newton	-82	+	H	-82	+	H	$4.81
Goodland	-90	+	H	-90	+	H	$4.73

TEXAS
Gulf track*	115	+	K	115	+	K	$6.78
Galveston	100	+	H	100	+	H	$6.63

OKLAHOMA
Enid	-30	+	H	-30	+	H	$5.33
Catoosa	15	+	H	15	+	H	$5.78

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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