HRW wheat bids steady

Hard red winter wheat basis bids in the US Plains were steady on Wednesday with the market eying new crop development but little movement noted in the country. A turn to warmer weather was expected to accelerate lagging development of the new winter wheat crop in the US Plains. Still, concerns about another low-protein wheat crop were developing due to moisture conditions.
KCBT wheat was called to open 2-4 cents lower on Wednesday after the benchmark May contract ended up 6 cents at $4.79-1/2 on Tuesday. USDA on Wednesday forecast total US wheat acres at 53.827 million, with the wheat harvest seen at 1.95 billion bushels. Corn plantings forecast at 88.8 million acres would be second-largest since 1946 and soyabean plantings would set record at 78.1 million acres.