Cash basis bids for hard red winter wheat firmed in parts of the southern US Plains on Friday as buyers sought to draw out fresh sales from the country, dealers said. Farmer offerings have been thin all week and many producers have completed their sales for 2012, they said.
Snowfall expected across Kansas and northern Oklahoma later this weekend should add to light snow cover there, MDA Weather Services said in a daily note. Snow cover has increased across much of the central Plains this past week, helping to protect wheat from winterkill across Nebraska, northern Kansas and north-eastern Colorado, the note said. Protein premiums for wheat shipped by railcar through or to Kansas City were unchanged as of Thursday afternoon. USDA reported export sales of US wheat in the latest week at 1.009 million tonnes, topping trade expectations for 500,000 to 700,000 tonnes. Kansas City Board of Trade March wheat futures settled on Thursday at $8.23-1/4 per bushel.
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