US hard red winter wheat spot basis bids were mostly unchanged in light activity on Wednesday, grain dealers said. Some farmer selling has been noted amid the rally in Kansas City Board of Trade futures prices in which July wheat closed at $5.03, up 3-1/4 cents, on Monday.
September settled up 8-3/4 cents at $5.17-3/4. Markets were closed Tuesday for the US Independence Day. Spot demand was reported lacklustre, though to-arrive wheat for August-October was more in demand. Premiums have weakened for lower protein wheat, with demand focused on middle and higher-protein supplies.
The US Agriculture Department reported Monday afternoon that the US winter wheat harvest was 65 percent completed as of Sunday, above the five-year average of 55 percent. In Kansas, harvest was estimated at 95 percent finished, 96 percent in Texas, 99 percent in Oklahoma, and 50 percent in Nebraska.
In export news, Japan's Agriculture Ministry said on Tuesday it was seeking to buy 80,000 tonnes of milling wheat from the United States, Canada and Australia at this week's regular tender.