Hard red winter wheat basis bids in the US Plains were steady to higher on Friday amid slow farmer selling and improved demand at some locations. Snow cover protecting the dormant crop and rains boosting soil moisture. Basis bids were higher in Catoosa, Oklahoma, amid slow farmer selling and slightly better demand. Bids were also higher in Goodland, Kansas.
Kansas City Board of Trade wheat futures were expected to open 1-3 cents lower on Friday; KCBT March wheat ended down 3-1/4 cents at $4.85-1/4 in Asian trading hours. France raised its estimate of soft wheat seeding area to nearly 4 percent above last year's. Canadian year-end stocks of wheat were smaller than the previous year.