Cash bids for dark northern spring wheat soared 21 to 26 cents a bushel in the northern US crop region on Friday, tracing a rally in Minneapolis Grain Exchange wheat futures that triggered scattered farmer sales, dealers said.
Cash bids for soft white wheat rose 18 to 19 cents in the US Pacific Northwest.
"A little wheat is moving," an Oregon dealer said. But offerings were few on the first business day of the new year. Some grain offices were closed on Friday for an extended holiday weekend.
No rail cars of wheat traded on the Minneapolis cash floor, dealers said, so the best basis held steady at 50 cents over the MGE March spring wheat contract.
Wheat futures at the three main US exchanges greeted the new year by rallying sharply on mounting optimism that China might buy US wheat.
USDA on Friday said exporters had reported a switch of 105,000 tonnes of spring wheat to China, rather than unknown destinations.
Also, China this week said it plans to send a wheat-buying delegation to the United States.
MGE March spring wheat futures closed 22 cents higher at $4.15-3/4 per bushel.
Chicago March SRW wheat closed 28-3/4 cents higher at $4.05-3/4.
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