Spot basis bids for hard red winter wheat held steady Tuesday as good domestic demand underpinned the market. Protein premiums for rail car wheat to and through Kansas City were 2 cents higher for 12.00 percent protein and 12.20-pro wheat. Substitution for spring wheat remained a market factor.
Wheat experts were predicting a bumper new crop and an early harvest this season due to abnormally warm growing weather this spring and a mild winter. An assessment of Kansas wheat fields by the Wheat Quality Council begins April 30. Weekly crop progress reports due out Monday from the US Department of Agriculture were delayed, and expected to be released Tuesday. USDA said Monday afternoon that weekly export inspections of wheat were 25,745 million bushels, topping analysts forecasts for 15 million to 19 million. The report was delayed due to a fire at a USDA building in Washington.
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