Basis bids for hard red winter wheat in the US Plains were steady on Friday, with many country dealers holding tight to supplies as premiums plunged. Railcar premiums for specific protein levels have been in decline over the last week and dropped another 26 cents a bushel for 12.40 percent protein wheat and dropped 6-20 cents for 11.60- through 13.20- protein levels.
Plains weather was mostly beneficial to the new crop, with mild conditions, though more moisture was needed, particularly in southern areas of the winter wheat belt.