Hard red winter wheat basis bids in the US Plains were steady on Thursday in a lackluster market. Light moisture was moving through the Plains wheat belt, though western and southern areas were expected to remain stressed. Protein premiums for HRW railcar wheat to and through Kansas City were unchanged, except for a 1 cent drop for 11.80 percent protein wheat supplies, which erased a 1 cent gain a day earlier.
Gulf track wheat was bid at 57 cents over nearby futures for March delivery. Kansas City Board of Trade HRW wheat futures ended higher on Wednesday, with the March up 6 cents at $8.78-3/4. The US Department of Agriculture projected Thursday US 2011 wheat plantings at 57 million acres, unchanged from its earlier projection and up from 53.6 million acres in 2010.
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