Bids for hard red winter wheat in the US Plains were steady to firm on Thursday amid quiet country offerings, dealers said. Farmer movement slowed after a flurry of selling last week, an Oklahoma dealer said. Continued improvement in soil moisture reserves in the US Plains hard red winter wheat belt noted, with additional showers and some light snowfall expected off and on through early next week - MDA EarthSat Weather.
A cold snap is expected by the weekend in the Plains and Midwest but no harm is expected to the dormant hard red winter wheat crop. Warmer weather beginning next week and continuing to at least February 23 - MDA EarthSat Weather. Protein premiums fell 5 to 10 cents at various levels between 13.00 to 14.00 percent protein on Wednesday.
USDA in its monthly supply/demand reports lowered its projection of domestic wheat ending stocks for the 2011/12 crop year to 845 million bushels, from 870 million bushels. Analysts on average had been expecting wheat ending stocks of 867 million bushels.
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