Hard red winter wheat basis bids held steady on Thursday as some livestock producers bought wheat in an otherwise quiet market, dealers said. Some hog and cattle feedlots purchased the grain to feed instead of corn, a Kansas dealer said. Producers chose to feed wheat due to corn's higher price and tight availability, the Kansas dealer said.
Dry and hot weather continues to threaten the planted corn crop as it pollinated and set yields. Temperatures continue to hover around 100 degrees Fahrenheit (38 degrees Celsius) in much of the US southern Plains.