US hard red winter wheat basis bids at interior points were mostly unchanged Friday, while bids at export points rose in reaction to slow movement of grain to the Gulf, cash dealers said.
Also, talk continued to circulate of a wheat sale to Iraq, which may be supporting the Gulf bids, dealers said.
Country movement increased in Kansas on Thursday after the 8-cent gain in Kansas City Board of Trade September wheat. In other areas, grain dealers said farmer selling remained light.
Rain was falling in north-west Kansas on Friday and more was forecast this week, dealers said. The moisture should help the sorghum and soybean crops.
Wheat futures at the Kansas City Board of Trade were called to open steady to 2 cents per bushel lower as the market was expected to correct from Thursday's gains. KCBT futures settled lower in overnight trading with September at $3.41-1/2 per bushel, off 1 cent.
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