Cash bids for hard red winter wheat in the US Plains were steady to weaker on Monday with merchants continuing to back off following active farmer sales. Exporter demand continued to underpin basis, while wheat offers backed off slightly. Protein premiums for railcar wheat to and through Kansas City rose 10 cents a bushel for ordinary wheat and climbed 5 cents a bushel for 11.60- through 12.20-pro wheat.
KCBT September ended up 28-1/4 cents on Friday at $6.74-1/2. Wheat prices have been soaring in recent weeks, spurred by the worst Russian drought in 130 years.
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