Spot cash basis bids for hard red winter held steady in the southern US Plains on Monday after falling last week, as heavy weekend rains stalled early harvest progress, dealers said. Some areas of Oklahoma and western Nebraska received up to 5 inches (12.7 cm) of rain over the weekend, the Commodity Weather Group said.
Harvest in southern Oklahoma has been halted for at least a week due to the showers, one dealer said. The moisture raised concern about sprout damage in mature wheat, although the dealer said there was little evidence of that yet. The rains may help boost test weights for maturing wheat in north-west Kansas and Nebraska.
Early yields reported from Texas and Oklahoma have ranged from 5 to 25 bushels per acre, with most around 15 bushels per acre, according to a weekly harvest report released Friday by US Wheat Associates. Early testing of 26 harvest samples from north Texas and south-west Oklahoma indicated an average test weight of 59.1 lbs per bushel and very high protein of 14.0 percent, US Wheat Associates said. Protein premiums for railcar wheat to and through Kansas City were unchanged on Friday. Kansas City July wheat was down 1 cent at $7.34-1/2 per bushel as of 9:46 am CDT (1446 GMT) on Monday.
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