US Plains HRW Wheat-Basis bids steady, farmers wait for rain

ReutersApr 15, 2025 7:39 PM

CHICAGO, April 15 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were flat on Tuesday in the southern U.S. Plains, dealers said.

* Farmers are hoping for rain to ease dryness in the region, and showers are expected over the weekend. It's unclear how beneficial they will be yet after crop conditions recently deteriorated, a broker said.

* In Kansas, the top producer of hard red winter wheat, 43% of the crop was rated good to excellent as of Sunday, down from 51% a week ago, according to the U.S. Department of Agriculture.

* K.C. May hard red winter wheat futures KWK25 ended down 2-1/4 cents at $5.53 a bushel after earlier setting its lowest level since March 31.

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-36	+	K	-36	+	K	$5.17
Newton	-65	+	K	-65	+	K	$4.88
Goodland	-82	+	K	-82	+	K	$4.71

TEXAS
Gulf track*	+100	+	K	+100	+	K	$6.53
Galveston**	+100	+	K	+100	+	K	$6.53

OKLAHOMA
Enid	-45	+	K	-45	+	K	$5.08
Catoosa	+15	+	K	+15	+	K	$5.68

NOTES:

H = March, K = May, N = July, U = September

Z = December; UNQ = Unquoted bids

0 = Sp Option price; NC = No comparison

* = No. 1 12% hard winter wheat, rail bids

** = Ordinary protein, rail bids

LINKS:

* K.C. HRW wheat protein scales KCBT/SCA

* U.S. weekly wheat crop progress US/WHE

* U.S. forward basis WHEAT/BASIS

* U.S. Midwest cash grain PM GRA/PM

* U.S. FOB Gulf Grain GRA/F

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