Basis bids for hard red winter wheat in the US Plains were steady on Monday, after an active week of increased farmer selling and good Gulf demand. A rally in futures prices drove producer selling, merchants said, though interest waned toward the end of the week as futures set back.
Protein premiums for railcar wheat to and through Kansas City dropped 3 cents a bushel for ordinary wheat and climbed 2 cents a bushel for 11.40 percent protein wheat. Weather in the US Plains was warm and mild on Monday, which should help finish some row crops, dealers said. Winter wheat seeding was continuing, and still seen as smaller this year than last.
Kansas City Board of Trade wheat futures were expected to open 5-8 cents higher on Monday, after the KCBT December contract ended down 7-1/2 cents at $5.10-1/2 on Friday. Egypt's agricultural quarantine authority said on Monday it released a 63,000-tonne French wheat cargo after treatment through sieving was conducted.
Bangladesh's state grains buyer has issued a new international tender to purchase 100,000 tonnes of wheat.
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