Spot basis bids for hard red winter wheat were steady to weak in the southern US Plains on Monday as domestic millers had adequate spot supplies, dealers said. Farmer sales of new-crop wheat remained light as producers continued to fret about the advancing crop's vulnerability to frost. Temperatures early Monday morning dipped into the low 30s (degrees Fahrenheit) in parts of Kansas.
The Commodity Weather Group said weekend temperatures were cool but inadequate to threaten damage. Rains in the central Plains late this week should limit crop stress, spreading across all but far south-western areas in the 6-10 day period, CWG said. The new wheat crop is expected to have a more normal level of protein as compared to the unusually high protein in last year's crop, grain dealers said.