Hard red winter wheat basis bids held steady on Monday amid ongoing quiet market conditions. Protein premiums for railcar wheat to and through Kansas City rose 6-16 cents a bushel for all protein levels, with 13.00 percent through 13.40-pro wheat garnering the highest premiums as millers sought fresh supplies.
The Gulf HRW wheat market was pegged about 76 cents over the KCBT September for 11.5 percent and about 96 cents over for 12 percent protein. Kansas City Board of Trade HRW wheat futures ended higher on Friday with the September contract ending up 24 cents at $8.19.
HRW wheat harvest was nearly completed in the US Plains, though wet fields in North Dakota continue to delay combining. Yields in North Dakota have been extremely variable ranging from 30 bushels per acre to over 80 bushels per acre with most on the lower end of that range, according to a report from Plains Grains Inc, a US growers' group. Farmers in the southern Plains are preparing to start seeding the new crop but need more moisture in the soil.
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