US Plains HRW wheat bids steady

Hard red winter wheat basis bids held steady on Friday amid slow farmer sales, dealers said. Producers anticipate higher prices and chose to store newly harvested wheat instead of booking sales, a dealer said. Concerns about temperatures above 100 Fahrenheit (38 Celsius) threatening the planted crop combined with a smaller crop size has led producers to put freshly cut supplies in storage, the dealer said.
Hot and dry weather will likely increase stress for planted crops in the central and southern Plains regions, a weather forecast said. Rainy weather in north-west Kansas paused long enough for harvest to resume late Thursday, but showers pushed producers out of the fields again, a dealer in the area said. KCBT September wheat closed 3-1/4 cents higher at $7.65-1/4 per bushel on Thursday.