US Plains HRW wheat basis steady, weather favors planting progress
WEAT•Hard red winter wheat basis bids were unchanged in the southern US Plains as warm, dry weather helped farmers accelerate planting. December Kansas City wheat futures fell 2.3% to $7.19-1/4 per bushel, and USDA raised its 2026/27 US wheat ending-stocks forecast to 740 million bushels.
1. Planting picks up
Basis bids for hard red winter wheat were unchanged in the southern US Plains, while cash markets were quiet as futures fell and farmers focused on planting the 2027 winter wheat crop. Warm, dry weather this week helped accelerate seeding after heavy rains at the start of the month. USDA said warmth was ideal for germination and establishment of recently planted winter grains, especially where topsoil moisture had improved.
2. Futures and stocks
December Kansas City hard red winter wheat futures settled down 17 cents, or 2.3%, at $7.19-1/4 per bushel after reaching $7.09, their lowest since mid-July. USDA raised its forecast for US 2026/27 wheat ending stocks to 740 million bushels from 717 million last month, above the average analyst estimate of 721 million.
3. Protein premiums mixed
Railcar wheat premiums to and through Kansas City fell 7 cents a bushel for wheat with 12.0% and 12.2% protein, while premiums rose 2 to 4 cents for wheat with 12.6% through 13.0% protein.
