Basis values are quoted against futures in cts/bu:
Current basis
Previous basis
Cash price
KANSAS
Wichita
-34 + U
-34 + U
$6.87
Newton
-59 + U
-59 + U
$6.62
Goodland
-65 + U
-65 + U
$6.56
TEXAS
Gulf track*
+110 + U
+110 + U
$8.31
Galveston**
+90 + U
+90 + U
$8.11
OKLAHOMA
Enid
-10 + U
-10 + U
$7.11
Catoosa
-85 + U
-85 + U
$6.36
Notes: H = March, K = May, N = July, U = September; Z = December; UNQ = Unquoted bids; 0 = Spot Option price; NC = No comparison.
= No. 1 12% hard winter wheat, rail bids
** = Ordinary protein, rail bids
Basis bids hold steady in southern Plains
Basis bids for hard red winter (HRW) wheat held steady in the southern U.S. Plains on Wednesday, spot checks showed, while K.C. hard red winter wheat futures surged about 3% on supportive U.S. government crop data and escalating tensions in the Black Sea grain export region.
A heat wave gripped the southern Plains with temperatures topping 100 degrees Fahrenheit (38 degrees Celsius) across Kansas, Oklahoma and the Texas Panhandle.
The harvest of HRW wheat wrapped up weeks ago in that area, and farmers in parts of Oklahoma were starting to harvest a few early-maturing corn fields, one merchandiser said.
Demand for wheat from flour millers remained flat.
Protein premiums for railcar HRW wheat to and through Kansas City fell by 5 to 10 cents a bushel for wheat with 11.0% through 11.6% protein. Premiums for other grades were unchanged. KCBT/SCA
Futures rise on USDA cuts and Black Sea concerns
K.C. September HRW wheat futures KWU26 settled up 21-1/2 cents, or 3.1%, at $7.20-3/4 per bushel. GRA/
The U.S. Department of Agriculture cut its estimate of U.S. 2026-27 all-wheat production to 1.531 billion bushels, from 1.536 billion in July.
The USDA lowered its estimate of the HRW wheat harvest to 463 million bushels, down from 471 million in July and below most analysts' expectations.
Along with supportive U.S. crop revisions, futures were supported by news that Ukraine attacked grain terminals in the major Russian wheat export port of Novorossiysk, raising fears of disruption of supplies to world markets.
WEAT•
