Spot basis bids for hard red winter (HRW) wheat in the US Plains production areas were mostly steady on Monday with business quiet in many locations, merchants said.
The best bid in Lincoln, Nebraska, firmed 2 cents a bushel while other locations throughout the Plains were steady. One Kansas merchant said bids in Wichita, Wellington and Topeka were aimed at drawing in wheat with 13 percent protein.
Declines in futures prices have been keeping sellers at bay, and heavy losses were posted on Friday, with the Kansas City Board of Trade HRW wheat market closing 4 to 9 cents lower, with the September at $3.33-3/4, down 9 cents.
Wheat traders were looking for at least a mild bounce on Monday.
There was a smattering of export news around, including word that Jordan's government has issued tenders for the purchase of 50,000 tonnes of optional-origin hard wheat. European traders also said that Jordan's government is likely to tender for about 130,000 tonnes of US-origin hard wheat in August.
Meanwhile, the state-run Trading Corporation of Pakistan on Monday rejected all bids for the import of 500,000 tonnes of milling wheat, saying bidders' supply terms were unacceptable. A fresh tender is to be issued Tuesday.