US Plains HRW wheat bids steady

Hard red winter wheat basis bids were steady on Friday as a devastating drought persisted in parts of the US Plains, hampering winter wheat seeding expectations. There was no near-term drought relief forecast, an agricultural meteorologist said on Friday.
Light and scattered showers over the past week provided only minor relief from the devastating drought that has left most wheat seedbeds starved of moisture and cooked grazing land, sending young cattle into feedlots prematurely. Protein premiums for rail car wheat to and through Kansas City were mostly steady, with gains of 7-10 cents posted for 12.00 percent protein through 12.60-pro wheat.