Spot basis bids for hard red winter wheat held steady in the southern US Plains on Monday, underpinned by mostly quiet farmer selling as K.C. September winter wheat futures fell for a 10th straight session, dealers said. Some producers were storing much of their grain and holding out for higher prices, an Oklahoma merchandiser said. But growers in north-west Kansas have been active sellers as their local harvest wound down.
Protein premiums for railcar wheat to and through Kansas City fell by 5 cents per bushel on Friday for ordinary through 11.8 percent protein, and fell 10 cents for 12.0 through 14l.0 percent protein. Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters expected the government to show the US winter wheat harvest at 76 percent complete, potentially surpassing the five-year average for the first time this season.
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