Spot basis bids for hard red winter wheat in the US Plains were mostly unchanged Monday and the weather was seen improving over key wheat-growing areas. Protein premiums for railcar wheat to and through Kansas City were 1 cent a bushel lower for 11 percent protein through 12.00-pro supplies and unchanged for higher pro wheat.
Farmer selling remained spotty. Farmers and wheat experts were expected to start gleaning the extent of any freeze damage on the new crop after the plunging temperatures of last week. KCBT wheat futures were called to open 4 to 6 cents per bushel lower Monday, still pressured by large world wheat supplies and lackluster US export business. On the export front, Iraq on Sunday issued a tender to buy a minimum of 50,000 tonnes of wheat from any origin, with bids due April 19.
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