US Plains HRW wheat bids flat

Hard red winter wheat spot basis bids were near flat around the southern US Plains on Monday as rising futures enticed farmers to sell small amounts of both old- and new-crop supplies, dealers said. K.C. May HRW wheat jumped to a one-month high of $4.78 per bushel, sparking relatively active selling by farmers as flour mills and grain elevators replenished stockpiles.
Still, overall fewer planted acres and worries that dry conditions in parts of the Plains could impact yields have kept a lid on new-crop sales so far in 2016, the dealers said. Parts of western Kansas were expected to miss storm systems this week that were forecast to bring heavy rains in the southern United States.