US Plains HRW Wheat-Basis steady as dryness expands in Plains

CHICAGO, March 5 (Reuters) - Basis bids for hard red winter wheat were largely steady in the southern U.S. Plains on Thursday, as protein premiums rose and traders monitored the risk for drought to hurt crops.

• Protein premiums for railcar HRW wheat to and through Kansas City rose by 7 to 12 cents a bushel for wheat with 12.0% through 12.6% protein, often a sign of demand from domestic flour mills. KCBT/SCA

• Rains were not expected to bring relief to the driest wheat-growing area in the Plains over the next two weeks, Commodity Weather Group said.

• About 47% of Kansas was suffering from dryness as of Tuesday, up from 36% a week earlier, according to the U.S. Drought Monitor.

• U.S. export sales of hard red winter wheat for 2025/26 were 57,320 metric tons in the week that ended on February 26, the U.S. Department of Agriculture said.

• Total weekly U.S. wheat export sales were 203,100 metric tons, compared to analysts' expectations of 200,000 to 500,000 metric tons. EXP/WHE

• K.C. May hard red winter wheat futures KWK26 climbed 20 cents to $5.92-1/2 per bushel, near a July high of $5.95-1/4 per bushel that the contract reached on Monday.

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