Cash basis bids for hard red winter (HRW) wheat were steady to firmer in the southern US Plains on Tuesday, and producer selling remained quiet, dealers said. The US Gulf track basis firmed by 5 cents at 150 cents above K.C. December HRW wheat futures. Planting of the 2018 US HRW wheat crop is under way, but dry conditions were a concern in central and northwest Kansas.

The US Department of Agriculture late on Monday said the US winter wheat crop was 5 percent planted, near the five-year average of 6 percent. The crop was 3 percent seeded in Kansas, 1 percent seeded in Oklahoma and 6 percent seeded in Texas. Ahead of the USDA's monthly supply/demand reports due later on Tuesday, analysts expected the government to trim its forecast of US 2017/18 wheat ending stocks.

Protein premiums for railcar wheat to and through Kansas City on Monday climbed 10 cents per bushel for 11.40 percent protein, rose 9 to 10 cents for 11.80 through 12.20 percent protein and increased 5 to 10 cents for 12.60 through 12.80 percent protein. Other grades were unchanged.

Copyright Reuters, 2017