Cash basis bids for hard red winter wheat (HRW) around the southern US Plains on Thursday were unchanged amid limited farmer sales, merchants said. Producers resisted selling their wheat in anticipation of possibly higher prices after Chicago Board of Trade Kansas City wheat pared some of their recent losses. K.C. wheat futures garnered support from better-than-anticipated weekly US export sales. But ample old-crop supplies and firmer dollar capped market advances.
Thursday's US Department of Agriculture weekly export sales data showed old-crop wheat sales at 853,400 tonnes, a marketing year high.
Premiums for wheat shipped to and through Kansas City on Wednesday were unchanged.
On Thursday, K.C. March HRW wheat settled up 2-1/2 cents at $4.40-1/4 per bushel.
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