Hard red winter wheat spot basis bids were unchanged in the southern US Plains on Tuesday as farmers continued to delay sales while many flour millers and shippers had sufficient supplies on hand, dealers said. Bids for rail shipments to the US Gulf Coast steadied after rising sharply in recent days to the highest levels in nearly two years, underpinned by strong export demand for HRW wheat.
Premiums were up 10 cents per bushel for HRW wheat containing 11 percent protein while other protein classes were flat for wheat shipped to and through Kansas City. Condition ratings for winter wheat improved in parts of the US Plains in January, including Oklahoma, where ratings had fallen sharply a month ago, the US Department of Agriculture said on Monday. K.C. March HRW wheat futures were up 1-3/4 cents at $4.30 per bushel at 11:05 am CST (1705 GMT).
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