US hard red winter wheat spot basis bids were mostly flat Thursday, with business slow as the harvest winds down, grain dealers said. Combining was wrapping up in Kansas and progressing through Nebraska and South Dakota. Dealers said while there was some pick-up in farmer interest in selling because of rallying futures prices, domestic demand was thin.
Export demand has also been limited aside from some CCC food aid business and routine dealings, such as this week's purchase by Japan's Agriculture Ministry of 40,000 tonnes of US milling wheat and 20,000 tonnes each from Canada and Australia.
Futures prices at the Kansas City Board of Trade rallied Wednesday, settling with the September up 4-1/2 cents at $5.22-1/4 per bushel. The market should see at least a light setback Thursday, traders said.
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