US Plains HRW wheat bids steady

Spot basis bids for hard red winter (HRW) wheat in the southern US Plains remained steady on Thursday, despite a second round of heavy futures selling, dealers said. Chicago Board of Trade Kansas City HRW wheat futures trended sharply lower in the wake of Wednesday's US Department of Agriculture monthly grain report that showed ample global supplies ahead. Protein premiums for railcar wheat to and through Kansas City on Wednesday were generally steady.
But wheat with 11.60, 12.00 to 12.20 and 12.60 protein dropped 15 cents per bushel. Wheat with 12.40 percent protein fell 25 cents. K.C. September wheat futures were down 27-1/4 cents at $5.16-3/4 a bushel at 12:28 pm CDT (1728 GMT).