Cash basis bids for hard red winter wheat (HRW) around the southern US Plains on Friday were steady, with farmers eyeing futures moves within an extremely narrow trading range, merchants said.
Chicago Board of Trade K.C. wheat drew sporadic support from short covering, but at times was pressured by disappointing weekly export data.
The US Department of Agriculture reported export sales in the week to January 12 at 242,500 tonnes of old-crop wheat, below trade expectations. Most premiums for wheat shipped to and through Kansas City on Thursday were steady. However, grain with 12.2 to 12.6 percent protein rose 5 cents per bushel and was up 3 cents for 12.8 percent protein. At 1:19 pm CST (1919 GMT), K.C. March HRW wheat was up 1-1/2 cents at $4.43-3/4 per bushel.
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