US Plains HRW wheat basis steady as storms cross region
DBA•Basis bids for hard red winter wheat were unchanged in the southern US Plains as storms brought rain and declining Kansas City futures discouraged farmer sales. Protein premiums rose for some grades, while winter wheat planting was 27% complete, below the five-year average of 34%.
1. Storms bring needed rain
Storms crossed the southern Plains on Tuesday as growers planted the 2027 winter wheat crop. Severe weather was predicted in some areas through Wednesday, and flood watches were in effect across northwestern Kansas. The USDA said rain was limiting fieldwork but improving soil moisture for rangeland, pastures and recently planted winter grains.
2. Wheat market figures
Basis bids were unchanged across the reported locations. Kansas City December hard red winter wheat futures settled down 2-3/4 cents at $7.43 per bushel after reaching $7.33-3/4, their lowest since August 14. Protein premiums rose 5 to 7 cents per bushel for railcar wheat with 11.6% to 12.2% protein and 2 cents for wheat with 12.4% protein.
3. Analysts eye USDA reports
Ahead of Wednesday's quarterly grain stocks and annual small grains reports, analysts surveyed expected the USDA to lower its estimate of the 2026 US wheat harvest to 1.524 billion bushels from 1.531 billion. They estimated September 1 wheat stocks at 1.872 billion bushels, down 12.3% from a year earlier.
