Plains handlers roll basis bids as September wheat nears expiry
CHICAGO, Sept 1 (Reuters) - Grain handlers in the southern U.S. Plains rolled their basis bids for hard red winter (HRW) wheat to the K.C. December futures contract on Wednesday as the September contract approaches its expiration.
K.C. September futures KWU26 ended down 11 cents at $8.14-3/4 a bushel. December futures KWZ26 closed 11 cents lower at $8.34-1/4 a bushel after setting a contract high of $8.58-1/4 a bushel.
Farmers were not heavy sellers although contracts set new highs, a merchandiser said.
Protein premiums for railcar HRW wheat to and through Kansas City rose by 1 cent a bushel for wheat that has ordinary protein levels to 11.2% protein. Premiums increased by 7-8 cents a bushel for wheat with 11.4% to 12.8% protein and by 3 cents a bushel for wheat with 13% to 13.2% protein.
On Thursday, the U.S. Department of Agriculture is expected to report 2026-27 U.S. wheat export sales were 350,000 to 650,000 metric tons for the week that ended on August 27, according to a Reuters poll of analysts.
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