02082016Mon
Last update: Mon, 08 Feb 2016 07pm

US Plains HRW wheat bids flat

Spot cash basis bids for hard red winter wheat were unchanged in the southern US Plains on Monday and farmer selling was quiet as K.C. hard red winter wheat futures fell to one-month lows, grain dealers said. Most producers were finishing up planting winter wheat for the 2016 harvest, but some were waiting for rains expected in the Plains later this week.

Final planting dates for wheat have passed in parts of Kansas and most of Colorado and Nebraska, one dealer noted. Crop insurance coverage typically declines each day that wheat is planted after the final planting date. Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters expected the government to report US winter wheat planting as 77 percent complete, up from 64 percent a week ago. K.C. hard red winter wheat futures for December delivery were down 9-1/2 cents at $4.74 a bushel at 12:50 pm CDT (1750 GMT), pressured by the forecasts for much-needed moisture in the southern Plains.

Copyright Reuters, 2015