US Plains HRW wheat bids steady

Spot cash basis bids for hard red winter (HRW) wheat were steady in the southern US Plains on Thursday, traders said. The track basis at the US Gulf firmed by fell 2 cents, to 95 cents over K.C. March KWH6 hard red winter wheat futures. Basis bids elsewhere were unchanged. A warm spell in the US Plains this week will cause a portion of the region's hard red winter wheat to break dormancy and lose some of its winter hardiness, but forecasts showed no immediate threat to the crop.
Protein premiums for railcar wheat to and through Kansas City fell 5 cents a bushel for wheat with 11.80 through 12.80, and 13.2 to 13.6. Protein premiums with 13.0 percent protein fell 7 cents Wednesday. Premiums for other grades were unchanged as well. As of 9:50 am CST (0950 GMT), K.C. March HRW wheat was last down 1/2 cents at $4.53-1/2 a bushel.