Spot basis bids for US hard red winter wheat were steady to firmer at southern Plains locations on Friday as farmers' wheat sales dried up this week with the slide in futures, grain dealers said. Kansas City wheat September futures fell to a one-month low on Friday on technical selling amid poor export demand, traders said. The 40-cent slide in futures prices since last Friday turned farmer harvest sales quiet after a pickup last week when prices were higher.
The HRW wheat harvest in Texas, Oklahoma and Kansas was complete as of Friday, according to an industry weekly harvest report released by Plains Grains. Colorado and Nebraska were more than 70 percent complete. The quality of the crop is suffering from strip rust and wet weather late in the season. In Canada, the CWB Market Research Services wrapped up its annual crop tour and projected spring wheat yields 15 percent lower that last year's tour forecast and durum yields down 32 percent due to heat stress in the Western Canadian Prairies this season.
Protein premiums for railcar wheat to and through Kansas City firmed by 4 cents on Thursday for 12.0 percent through 12.8 percent protein grades. Kansas City HRW September futures were down 9-3/4 cents at $5.07-1/4 per bushel at 10:33 am CDT (1533 GMT).
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