US Plains HRW Wheat-Basis flat; forecasts call for hot, dry weather

CHICAGO, March 17 (Reuters) - Basis bids for hard red winter (HRW) wheat were unchanged in the southern U.S. Plains on Tuesday while declines in wheat futures, coupled with uncertainty about crop prospects, kept farmer sales to a minimum, merchandisers said.

• Protein premiums for railcar wheat to or through Kansas City were unchanged. KCBT/SCA

• Drought remains a worry across much of the southern Plains, with the 2026 winter wheat harvest at least three months away. "We need moisture," an Oklahoma merchandiser said.

• Farmers were still gauging the impact of frigid weekend temperatures on developing winter wheat plants.

• Meanwhile, forecasts called for temperatures to soar this week to much-above-normal levels late this week, including possible record highs.

• Condition ratings for winter wheat declined in the latest week in Kansas, Oklahoma and Texas, data released by the U.S. Department of Agriculture showed on Monday.

• K.C. May HRW wheat futures KWK26 settled down 9-3/4 cents on Tuesday at $6.06-3/4 per bushel, pressured by global export competition. GRA/

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