Cash basis bids for hard red winter wheat held steady at elevators across the southern US Plains on Friday. Dealers reported active sales by farmers eager to take advantage of a rally that pushed hard red winter wheat futures prices to their highest since August 23. The US Agriculture Department on Friday said that weekly wheat export sales totaled 183,600 tonnes, down from 582,573 tonnes a week ago and below the low end of trade expectations for 200,000 to 525,000 tonnes.
USDA also said that private exporters reported the sale of 100,000 tonnes of hard red winter wheat for delivery to unknown destinations during the 2016/17 marketing year. It was the USDA's first announcement of a flash wheat sale since October 20. Protein premiums for railcar wheat to and through Kansas City were unchanged. At 9:30 am CST (1530 GMT), K.C. HRW wheat futures for March delivery were up 1-3/4 cents at $4.36-1/4 a bushel after hitting a high of $4.38-3/4 a bushel.
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