US Plains hard red winter wheat basis bids were steady on Thursday though demand was picking up as offers were light. Farmer selling was light, merchants said. Top dressing of fields was mostly completed. Light rain was noted in some dry areas of the central and southern Plains, but more was needed.
Protein premiums for railcar wheat to and through Kansas City rose 8 cents a bushel for 13.40- and 13.60-percent protein wheat and rose 7 cents for 13.80-pro supplies, while remaining unchanged otherwise. The US Agriculture Department on Thursday morning forecast US wheat plantings at 58 million acres, up 3.6 million acres from 2011. Iran bought 800,000 tonnes of wheat from Russia and Australia and paid a premium over international prices, European traders said.
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