Cash spot basis bids for hard red winter wheat were steady in the southern US Plains on Thursday. Widespread rains over the last week helped improve moisture levels in drought stricken regions of Texas, with rainfall totals exceeding 6 inches, according to the Drought Monitor report issued Thursday by a consortium of state and federal climatologists.
In Oklahoma, drought conditions also improved, but in top wheat-producer Kansas conditions held steady, the Drought Monitor report said. K.C. December wheat futures traded at $6.04-1/2 early.
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