US Plains hard red winter wheat basis bids were steady on Wednesday in routine dealings, merchandisers said. Significant snowfall forecast for the US Northern Plains spring wheat region this weekend but dryness was an increasing concern in the far Southwest US hard red winter wheat region.
Track bids for No 1 HRW wheat were priced at $1.12 over the March contract for February and March. Protein premiums for railcar wheat to and through Kansas City rose 4 cents a bushel for 13.40- and 13.60-percent protein wheat but were unchanged otherwise. Warming temperatures in the Plains where more soil moisture is needed in the Southern Plains for the emerging new winter wheat crop. Wheat futures at the Kansas City Board of Trade ended lower on Tuesday with the March contract down 12-1/2 cents at $6.77.
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