Spot cash basis bids for hard red winter (HRW) wheat were unchanged in the southern US Plains on Monday and farmer selling was quietly steady as K.C. HRW futures declined, merchandisers said. Combines were rolling in parts of northern Kansas, Nebraska and Colorado, although progress last week was slowed by high humidity and heavy dew, according to a weekly report from Plains Grains Inc, a trade group.
Among 195 wheat samples from the 2016 HRW crop tested by Plains Grains, the average protein level was 11.2 percent, up from 11.1 percent a week earlier but below the 2015 average of 12.3 percent. The average test weight of the samples was 61.1 lbs per bushel, down from 61.4 lbs a week earlier but above the 2015 average of 59.3 lbs per bushel.
Underscoring concern about scarce supplies of high-protein wheat, protein premiums for wheat shipped to and through Kansas City rose by 4 to 9 cents per bushel on Friday for wheat with 13.0 through 13.8 percent protein. Premiums for other grades were unchanged.
Comments
Comments are closed.