Hard red winter wheat basis bids held steady Tuesday in a quiet market as winter wheat harvest neared completion in the north, and farmers in the south worried about fall planting prospects. US wheat prices, meanwhile, fell sharply on Monday as part of a larger market setback. Kansas City Board of Trade HRW wheat closed with the September down 25 cents a bushel at $7.55-1/4.
Protein premiums rose 2 cents a bushel for 13.00-pro through 13.80 percent protein wheat supplies. Dry soils in the key US growing states of Texas and Oklahoma, and parts of Kansas, did not bode well for fall planting prospects of new HRW wheat due to extended drought. Egypt bought 60,000 tonnes of Russian wheat, the main government wheat buyer there said on Tuesday.