Hard red winter wheat basis bids were mostly steady in the US Plains on Friday as cash market activity remained quiet, dealers said. Dealers said there was little farmer selling. There was some movement of grain to terminals in Oklahoma, a dealer said. Premiums on hard red winter wheat in Kansas City were unchanged.
The southern belt warmed up enough for the crop to break dormancy this week, dealers said. However, the planted crop desperately needs moisture. Dry, warm and windy weather continued to stress the hard red winter wheat crop in the western Plains. Some showers are likely in the east over the next several days, away from the large wheat-producing areas.
Kansas City Board of Trade HRW wheat futures ended higher on Thursday with the May up 52-3/4 cents at $8.31 per bushel. KCBT wheat futures for May rose 28-1/2 cents to $8.59-1/2 a bushel on overnight electronic volume of 1,493 lots, trading in a range of $8.23-1/4 to $8.63.
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