Hard red winter wheat basis bids were mostly steady on Monday in very light market activity, dealers said. Dealers characterized the market as quiet while monitoring new-crop conditions. Available old crop supply was very light which also kept a lid on trading, dealer said.
USDA weekly crop progress report was expected to be released later on Monday. Last week's report showed 23 percent winter wheat crop headed with 29 percent in good condition and 21 percent in poor condition. Estimates for new-crop production varied but some were looking for 250 million to 275 million bushels in Kansas, the top US wheat-growing state.