Spot basis bids for hard red winter wheat (HRW) were steady in the southern US Plains on Thursday and farmer selling was subdued as storms crossed the region, grain merchandisers said. Widespread showers were forecast across the HRW wheat belt through Saturday, favoring Nebraska, northeast Colorado, Kansas, central Oklahoma and central Texas, MDA Weather Services said in a note.
The moisture could threaten the yield potential and quality of developing HRW wheat and stall the harvest just under way in portions of Texas and southern Oklahoma. Protein premiums for railcar wheat to and through Kansas City were unchanged. K.C. July HRW wheat futures settled down 1/2 cent at $4.26 per bushel, pressured by spillover weakness from soybeans and corn.
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