US Plains HRW wheat basis flat in slow trade; farmers await rains
WEAT•Hard red winter wheat basis bids held steady in the southern US Plains as K.C. December futures fell 16¼ cents to $7.45¾ per bushel. National winter wheat planting was 27% complete, below the five-year average of 34%.
1. Basis bids hold steady
Spot basis bids for hard red winter wheat were unchanged in the southern US Plains on Monday, while farmer grain offerings were minimal as producers focused on autumn field work and K.C. wheat futures fell to a six-week low.
2. Planting trails averages
Planting of the 2027 winter wheat crop was off to a slow start, with some growers waiting for moisture. The USDA said 27% of the crop was planted nationally, compared with a five-year average of 34%; Kansas was 18% planted, Oklahoma 7% and Texas 30%. Rains were forecast this week, though some showers could be excessive in southwestern Kansas and Oklahoma. K.C. December HRW wheat settled at $7.45¾ per bushel after falling 16¼ cents and touching $7.38¾, its lowest since August 14.
