US Plains HRW wheat bids steady

Hard red winter wheat basis bids were steady on Thursday in an uneventful market ahead of a harvest. Most elevators reported ample space for new-crop wheat, as production is trimmed due to drought. And, as harvesting of the drought-damaged wheat continues through the Southern Plains, concerns are growing that seed wheat for next season's planting will be in short supply.
Both quantity and quality of seed wheat is a concern, said some seed dealers. Premiums for hard red winter wheat export supplies at the US Gulf Coast were higher amid strong domestic demand and slow farmer selling, traders said. Kansas City Board of Trade July wheat ended down 16-1/2 cents on Wednesday at $8.91-1/2.