Most cash basis bids for hard red winter wheat (HRW) in the southern US Plains held steady on Thursday except in Goodland, Kansas, where they jumped 10 cents per bushel, spurred by increased demand, merchants said. They said domestic demand picked up in the region amid minimal farmer sales, more interest from millers and good US exports.
Thursday morning's US Department of Agriculture data showed US wheat export sales in the latest week at 531,400 tonnes for 2016/17. It topped a range of trade forecasts for 300,000 to 500,000 tonnes. Proteins for wheat shipped to and through Kansas City on Wednesday were largely unchanged, but climbed 10 cents per bushel for grain with 12.20 percent protein. Worries that harsh weather in the Plains could reduce shipments to export terminals lifted bids in the Gulf coast by 4 cents per bushel. Meanwhile, Chicago Board of Trade K.C. wheat futures' profit-taking retreat discouraged farmer sales.
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