US Plains HRW wheat bids firmer

Spot basis bids for hard red winter (HRW) wheat were steady to firm in the southern US Plains on Friday and farmers stayed on the sidelines as K.C. HRW wheat futures fell to contract lows, dealers said. The basis firmed by a nickel at Catoosa, Oklahoma. The K.C. March HRW wheat futures contract settled down 2-3/4 cents at $4.18 per bushel after dipping to a contract low of $4.17, pressed by sluggish export demand and a firmer US dollar.
Protein premiums for railcar wheat to and through Kansas City were unchanged on Friday. Dry conditions remained a worry across the southern Plains as the 2018 HRW crop entered winter dormancy.