Hard red winter wheat basis bids were steady on Friday in a continued quiet market as harvest pushed northward. Kansas Association of Wheat Growers and the Kansas Wheat Commission issued a report Thursday afternoon estimating harvest in that state will begin the first week of June.
Drought was expanding in Kansas and was creating even more dire conditions for the new wheat crop in the key growing state. Nearly 50 percent of the state is now suffering severe drought or worse, according to a report issued Thursday by a consortium of climatologists.
Fort Worth Grain Exchange said it had analysed 35 new wheat samples from May 19 and found good test weight, averaging 62.2 lbs per bushel and high protein averaging 13.3 percent. Protein premiums for railcar wheat jumped 10 cents a bushel for 12.00-percent protein wheat supplies, 9 cents a bushel for 12.20- through 12.80-pro wheat, and 5 cents a bushel for 11.60-percent protein wheat. Kansas City Board of Trade hard red winter wheat July closed 6-3/4 cents higher at $9.44-3/4 on Thursday.
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