Spot basis bids for hard red winter wheat in the US Plains were steady to firmer on Monday, though demand remained spotty in some areas, merchants said. Resellers were noted as active buyers, though mill needs were well covered by timely deliveries of contracted wheat supplies. Weather in parts of the Plains wheat belt was turning cooler and wetter, but significant rainfall is needed to recharge drought-hit soils ahead of planting of winter wheat.
Kansas City Board of Trade HRW futures ended lower on Friday, with the KCBT September down 22 cents at $8.93 per bushel. Protein premiums for railcar wheat to and through Kansas City were 2 cents lower for 11.00 percent protein wheat; 2-5 cents higher for 11.40-11.80 percent protein wheat; and 5 cents higher for 13.00-pro wheat supplies, but unchanged otherwise.
Egypt's state corporation GASC purchased at a Saturday tender 120,000 tonnes of Russian wheat FOB for delivery September 20, the portal OTC-Agro announced. This tender was the first for the corporation in the agricultural year that began July 1 in which it bought wheat from foreign companies.
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