Spot basis values for hard red winter wheat were mostly steady to firmer Monday, with scattered demand underpinning an otherwise lacklustre cash market, merchants said.
The basis was 7 cents firmer in Enid, Oklahoma, but unchanged elsewhere. Protein premiums for railcar wheat to and through Kansas City were likewise unchanged.
Domestic demand has been spotty but steady with seasonal needs noted. "With the holidays coming, nobody wants to run out of wheat," said one Kansas City cash wheat trader. Dry weather in the Plains remained a concern for the new crop and a supportive factor for futures prices at the Kansas City Board of Trade. KCBT wheat closed mixed Friday, with December up 4 cents at $3.58-1/4 per bushel and March up 1-1/4 cents at $3.62.
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