US Plains hard red winter wheat basis bids held mostly steady Tuesday, with fresh export sales to Egypt underpinning the market. Traders in Kansas said they were finding it difficult to get railcars to ship wheat due to tight supplies.
Parts of Oklahoma remained flooded, which closed some roads and slowed the pace of business, traders said. "We can't find enough railcars," a Kansas trader said, adding that farmer selling remained slow.
Egypt's General Authority for Supply Commodities (GASC) bought a total of 450,000 tonnes of US and Russian wheat at its tender. US wheat totalled 240,000 tonnes.
Separately, Egypt's state-owned Holding Company for Food Industries set a tender to buy 110,000 tonnes of optional origin milling wheat for September shipment. Kansas City Board of Trade HRW wheat futures settled mixed Monday, with September off 1 cent at $6.49-1/2 per bushel and December up 1 cent at $6.65.
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