Hard red winter wheat basis bids were firming Tuesday as the pace of the wheat harvest in the Plains accelerated amid hot and dry weather. Cutting continued in southern Kansas and the Kansas Wheat growers group said more than 350,000 bushels have been delivered to the OK Coop in Kiowa. Yields in south-central Kansas were better than expected for some farmers, but still lower than normal. Southwestern areas were seeing disappointing yields.
A grain merchandiser at the Farmers Coop Grain Association of Wellington - a key production area in the key growing state of Kansas - reported taking in 325,000 bushels so far with yields ranging from 15 to 40 bushels per acre, indicating production in that area will be about 60 percent of normal.