Hard red winter wheat cash bids in the US Plains were holding steady on Friday with the market mostly quiet as farmer selling remained limited and demand was reported as good, but not desperate. Interest from west coast mills and exporters helped underpin the market but many domestic mills were well stocked.
Farmers continued to hold tight to their supplies, hoping for higher prices, despite the fact wheat prices rallied 47 percent in 2010 and remain at historically high levels. Kansas City Board of Trade March HRW wheat futures ended down 7-1/2 cents at $9.32-1/2 on Thursday.
Dryness remains a concern in western growing areas of the US Plains hard red winter wheat region, and temperatures were warming headed into the weekend in top producer Kansas. A winter storm was forecast for early next week, but likely centered over Texas and Oklahoma, though the storm could move across Kansas, forecasters said.
Comments
Comments are closed for this article.