Basis bids for hard red winter wheat in the US Plains were unchanged Friday with merchants describing a mostly quiet market. Farmer sales were largely non-existent as wheat prices continued to fall. On Thursday, the Kansas City Board of Trade September wheat contract ended down 10-1/2 cents at $5.08-1/2 per bushel.
KCBT wheat futures were expected to open 2-4 cents lower Friday. Futures prices are down more than 12 percent so far this month. Fall harvest was the focus in the country with large corn, sorghum and soy crops expected.
In wheat news Friday, Taiwan's Flour Mills Association bought a cargo of up to 33,000 tonnes of US wheat from Toepfer, a group source said on Friday. And a USDA attache in Australia reported that planted wheat for 2009/10 there was forecast at 13.5 million hectares, up 605,000 hectares from a previous forecast and second to an all-time record of 13.55 million hectares.
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