Hard red winter wheat basis bids held steady around the US Plains on Thursday in quiet market activity, dealers said. Dealers noted no new sales and a lack of grain movement early on Thursday. Recent moisture will aide growth of the planted crop in areas of the region that received rainfall earlier this week.
However, it is not likely there will be much more rainfall over then next 10 days in southern Kansas and areas south of Kansas, a forecast showed. Hard red winter wheat premiums were mostly unchanged, trade sources said. The US Agriculture Department said 432,300 tonnes of US wheat were sold for export last week, within the range of estimates for 400,000 to 700,000 tonnes. Kansas City Board of Trade July wheat was 16-3/4 cents higher at $9.28-3/4 on Wednesday. KCBT wheat was called to open 12 to 15 cents per bushel higher on Thursday on wet weather conditions across the eastern corn belt.