US Plains HRW wheat bids steady

Spot basis bids for hard red winter wheat in the US Plains held steady Tuesday with offers thin and the market reported as lackluster. Farmers continued to await higher prices after selling a good portion of their new crop early. Spotty mill demand was noted but pipelines were largely well stocked.
Hot and dry conditions continued to plague corn and soybean producers though some rain relief was noted in recent days. Wheat producers need much more rainfall ahead of fall planting. Kansas City Board of Trade HRW futures ended steady to higher on Monday, with the KCBT September steady at $8.96 per bushel. Protein premiums for railcar wheat to and through Kansas City rose 10 cents a bushel for ordinary wheat and rose 2 cents for 11.80 percent protein wheat and also rose 2 cents for 12.00- through 12.60-pro wheat supplies.