HRW wheat bids steady

Hard red winter wheat basis bids were steady to tighter on Monday in thin market activity as dry, windy weather conditions continued to plague the new crop. The likelihood of the drought conditions ending this week in the western and southern Plains was low, a weather forecaster said. For details. The new crop needs moisture badly and the continued dry conditions do not bode well for the developing wheat, several dealers said.
Cash wheat prices remained strong, given the uncertainty about the condition of the new crop, dealers said. New farmer sales continued to be light, but there were deliveries of previously contracted grain in some areas. The Kansas City Board of Trade May ended up 10 cents at $9.32-3/4.