Hard red winter wheat basis bids were steady on Monday with scattered farmer selling noted. Mill demand was mostly short-term and wheat offers were light. Protein premiums for railcar wheat to and through Kansas City were unchanged in a quiet market. Rail car loading was slowed by the winter storm and frigid conditions in the US Plains but conditions were improving Monday.
Crop seen largely benefiting from the snowstorm last week, which brought good moisture to the Plains. Kansas City Board of Trade March hard red winter wheat futures were expected to open 2 to 4 cents higher on Monday after the KCBT March ended up 9-3/4 cents, or 1.7 percent, at $5.60, on Friday. Market looking ahead to the January 12 USDA crop production and wheat seedings reports, with US winter wheat acreage seen down 6.5 percent from a year ago.
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