Hard red winter wheat basis bids in the US Plains held steady Monday in a quiet market as wheat dealings resumed routine activity. Slow shipments of wheat for February contracts remained a problem for some mills after truck and rail transportation was complicated by recent winter storms.
The bitter conditions associated with the recent storms likely did some damage to the new winter wheat crop, but experts said it would be awhile before the extent of the damage could be determined. Temperatures warmed up in the US Plains over the weekend and were forecast to be mostly mild early this week.
Protein premiums for railcar wheat to and through Kansas City jumped 11 cents a bushel for 12.00- through 12.40 percent protein wheat, and climbed a nickel a bushel for 11.80-pro wheat. Export demand was good. Iraq bought 350,000 tonnes of wheat from Australia and the United States in its latest tender; and Tunisia bought 100,000 tonnes of soft wheat of optional origin wheat.
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