US Plains HRW wheat bids steady

Hard red winter wheat cash bids in the US Plains were mostly steady on Thursday though some merchants adjusted basis in a sluggish market. Basis in Goodland, Kansas, was notched back a dime a bushel, while the basis in Catoosa, Oklahoma, firmed a nickel. Protein premiums for railcar wheat to and through Kansas City were unchanged.
A winter storm was forecast to move across parts of eastern Colorado and western Kansas and Nebraska, which should benefit the new HRW wheat crop. Western fields have been struggling from a lack of moisture. Kansas City Board of Trade March HRW wheat futures ended down 2-3/4 cents at $8.57-3/4 on Wednesday.