Cash bids for hard red winter wheat held steady on Friday and country selling was subdued as producers waited to assess crop damage from recent cold weather, traders said. Temperatures early Friday fell into the low 20s (degrees Fahrenheit) in parts of Kansas but the cold was not as severe as some had feared, merchandisers said. Still, crops in some areas have struggled with recent frosts following months of drought.
Some producers in north-west Kansas are planning to tear up their wheat and plant spring crops instead, a dealer said. Wetter weather is forecast for the southern Plains next week, which should help the crop. Protein premiums for railcar wheat to and through Kansas City were unchanged. As of 10:07 am CDT (1507 GMT), Kansas City Board of Trade May wheat futures were down 2-3/4 cents at $7.41 per bushel after settling Thursday at $7.43-3/4.
Comments
Comments are closed.