US Plains HRW wheat bids flat

Spot basis bids for hard red winter wheat were mostly flat at elevators, mills and terminals in the southern US Plains on Thursday, as farmers welcomed the holiday, grain merchandisers said. Farmers were more interested in the New Year holiday than selling or making calls about wheat, dealers said. Dealers said farmers are holding onto about 30 to 40 percent of their wheat harvest in hopes the market will rally or for wheat to reach $9 per bushel. They are in no rush to sell, and are more focused on corn than wheat.