US wheat basis bids mostly lower as KC futures shed 20.5 cents
According to Reuters, hard red winter wheat basis bids in the US Plains were mixed, while the December KC contract fell to $6.19 a bushel.
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what happened
According to Reuters, basis bids for hard red winter wheat were mixed across US Plains locations on Thursday. Futures weakened during a week of light trading.
US Department of Agriculture data showed protein premiums for railcar wheat moving to and through Kansas City fell 10 cents for wheat at 11.8% protein and 3 cents for lots at 12-12.2% and 12.4-12.6% protein. Other grades were unchanged.
The December KC hard red winter wheat contract (KWZ26) last traded 20.5 cents lower at $6.19 a bushel. Basis levels for Kansas, Texas and Oklahoma locations are quoted against futures in cents per bushel.
why it matters
Basis is the gap between a local cash grain price and the futures contract. Its moves reflect local demand, transport costs and grain quality, so they show how the market values physical wheat in different regions. Traders watch futures and basis together: a lower futures price pulls values down, while basis changes reveal where demand is shifting.
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sources
- Basis bids flat to lower — Reuters, 12 November 2026 at 23:56 UTC
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