Hard red winter wheat basis bids were mostly steady on Thursday as slow grain movement persisted and dry weather in the Plains made for poor planting prospects. The basis was 5 cents weaker in Catoosa, Oklahoma, but other locations were steady as demand remained strong.
A merchant in western Kansas said they were holding tight to country supplies, anticipating higher prices due to the poor seeding conditions for the new HRW wheat crop. Protein premiums for railcar wheat were 1-2 cents higher for 12.60-pro through 13.80-pro wheat supplies. Kansas City Board of Trade HRW wheat futures ended lower on Wednesday with the December down 26-1/4 cents at $7.26-3/4. The US Department of Agriculture said 428,900 tonnes of wheat were sold for export last week.
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