Hard red winter wheat basis bids were steady to firmer on Tuesday as harvest advanced north. Harvest results varied widely with some producers reporting better-than-expected yields and quality and others disappointed. Drought, hail and recent rains have complicated this year's harvest.
Ample supplies of high protein seen in the new crop helped push down premiums. Protein premiums for rail car wheat to and through Kansas City were 10 cents lower for 14.00 percent protein wheat supplies and 6 cents higher for 11.60- through 12.40-pro wheat; and a nickel a bushel higher for 12.60-pro supplies. Kansas City Board of Trade July wheat ended down 3-1/2 cents on Monday at $8.01 a bushel.