Spot basis bids for hard red winter (HRW) wheat were mixed on Monday while farmer offerings remain thin, dealers said. The US Gulf wheat basis fell by 5 cents late Friday to 100 cents over K.C. September HRW wheat futures contract. But the spot basis at Catoosa, Oklahoma, jumped to 20 cents over the September, from 5 over last week, reflecting spot demand for wheat at the inland port.
Protein premiums for railcar wheat to and through Kansas City on Friday fell by 5 cents for wheat with 11.0 and 11.2 percent protein, and rose 2 cents for wheat with 13.0 through 14.0 percent protein. Other grades were unchanged. K.C. September wheat settled up 11-1/2 cents at $5.04-1/2 per bushel.
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