Spot basis bids for hard red winter wheat in the US Plains were mostly steady on Tuesday with light farmer selling. Basis climbed a penny a bushel for Gulf wheat but otherwise bids were steady. Mill demand was expected to slow ahead of the Thanksgiving holiday next week.
Protein premiums for railcar wheat to and through Kansas City remained unchanged. Beneficial moisture through parts of the Plains helped the new wheat crop. Western areas of the wheat belt remained detrimentally dry. Kansas City Board of Trade hard red winter wheat futures closed Monday with the December contract at $8.90-1/2 per bushel. In world wheat news, Ukraine's authorities were nearing a decision on whether to limit exports to ensure its population has enough cheap bread, analysts and traders said. The Agriculture Ministry has said exports have almost reached the maximum volume originally agreed by officials and exporters for this season, which runs to end-June 2013.
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