US Plains hard red winter wheat basis values were rolling mostly on Monday, with the market awaiting the approaching harvest. With combining expected to start rolling within the next several weeks, the condition of the new crop was being closely watched by farmers and food companies alike.
The Wheat Quality Council's annual tour of Kansas, typically the top US wheat-producing state, kicks off Monday. A group of more than 60 representatives from food companies, millers, bakers and the federal government will end the tour Thursday with a calculated estimated average yield and production tally for this year's Kansas wheat crop.
Protein premiums were down 5 cents a bushel for ordinary wheat as well as for 12.00-pro through 12.40-pro wheat supplies. Kansas City Board of Trade July wheat ended up 21-3/4 cents at $8.61-1/4 per bushel Friday. Futures were called to open mixed to 5 cents higher Monday.