US Plains hard red winter wheat basis bids were holding steady on Monday, with merchants reporting increased enquiries from farmers in a signal of possible new-crop sales. Mill demand was light for spot supplies as contracted shipments were largely arriving as needed.
Rain showers were marching across parts of the Plains and US Midwest, which should benefit new crop wheat. Warm temperatures have spurred early spring growth in the new HRW wheat crop, causing some worries that any late freeze could jeopardize yields. The warm temperatures and high humidity were favourable for disease development, including leaf rust. Texas A & M University entomologist James Swart said the weather conditions and crop development rate this season are highly unusual, with wheat development 10 days to two weeks ahead of normal.