Spot basis bids for hard red winter (HRW) wheat were unchanged in the southern US Plains interior on Thursday, underpinned by a lack of farmer selling, dealers said. Growers stayed on the sidelines, holding out for higher prices and a better indication of yield prospects following several bouts of frigid temperatures since late December that may have damaged crops.
The latest US Drought Monitor report, prepared by a consortium of climatologists, showed drought intensifying slightly in the week ended Jan. 16 in the top wheat-producing states of Kansas, Oklahoma and Texas. Protein premiums for wheat delivered by railcar to or through Kansas City rose by 5 cents per bushel for wheat with 11.20 percent through 11.80 percent protein. Premiums for other grades were unchanged after firming earlier this week.
Comments
Comments are closed for this article.