HRW wheat bids steady to firmer

Spot basis values for hard red winter wheat were steady to firmer on Monday, with some spot demand seen propping up prices, merchants said.
The basis was 2 cents higher in Salina, Kansas, on mill needs, but unchanged elsewhere.
Meanwhile, protein premiums for railcar wheat to and through Kansas City remained in a retreat, with declines of 3 cents a bushel posted for ordinary wheat supplies.
Futures traders at the Kansas City Board of Trade were looking for hard red winter wheat futures prices to open 1/2 to 1 cent a bushel lower on Monday, in a setback from Friday's gains, with a quiet export market seen weighing on prices.
The KCBT HRW wheat futures market settled 1/2 cent to 4-1/4 cents higher on Friday, with the December up 4-1/4 cents at $3.66-3/4 per bushel, and the March at $3.71-3/4, up 3-3/4 cents.