Hard red winter wheat basis bids were steady in the US Plains on Thursday 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 up a penny a bushel for 12.00-pro through 12.40-pro wheat supplies and unchanged otherwise.
Mill grind was reduced during the holiday week. Wheat offers were thin. Futures prices were expected to open 2-4 cents higher on Thursday in year-end positioning after the market closed lower on Wednesday with March wheat up 2-1/2 cents at $5.40-1/2. USDA said weekly export sales of US wheat totalled 370,300 tonnes, with a range of trade estimates for 300,000 to 500,000 tonnes. Egypt bought 240,000 tonnes of Russian wheat.
Comments
Comments are closed.