Spot basis bids for hard red winter wheat in the US Plains were steady to firmer on Friday, with farmer selling slow. The basis in Salina, Kansas, was 5 cents a bushel firmer, while other locations were unchanged. The Gulf track bid for nearby delivery was withdrawn.
Mill demand remained steady, while offers were limited. There were few transportation problems or delays seen, merchants said. Protein premiums for railcar wheat to and through Kansas City were 3-6 cents higher for some mid- and upper-protein wheat supplies.
Kansas City Board of Trade March HRW wheat futures were expected to open 5-8 cents lower on Friday amid falling stock markets and a firmer dollar. The KCBT March ended Thursday up 11-3/4 cents at $5.58-1/4 and the May settled 12-1/2 cents higher at $5.67. USDA said Friday that weekly export sales of US wheat for the current marketing year totalled 433,500 tonnes.
Comments
Comments are closed.