Hard red winter wheat basis bids were steady in the US Plains on Wednesday in slow trade ahead of the New Year's holiday on Friday when markets will be closed. Protein premiums for rail car supplies of HRW wheat through Kansas City were unchanged.
Mill grind was reduced during the holiday week with markets closed Friday for New Year's Day. Intermountain mills were seeking wheat the last couple of days, but mill demand generally was light. Farmer wheat selling picked up with a jump in futures prices Monday. Futures prices were expected to open 2-4 cents higher on Wednesday in year-end positioning after the market closed lower on Tuesday with March wheat down 8 cents at $5.38. Cold weather in the US winter wheat belt is not expected to harm the crop because it is covered by a blanket of insulating snow.
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