Spot basis bids for hard red winter wheat in the US Plains were steady to firmer on Wednesday in a quiet market as harvesters raced through big producer Kansas. Kansas Wheat Commission reported Tuesday that yields were coming in better than some farmers had thought they would due to high heat and dryness.
KWC said that within central Kansas, some areas were yielding 50 to 70 bushels per acre, while others in that region were averaging 30 to 50 bushels an acre. Protein and test weights were mostly good. US Department of Agriculture reported the US winter wheat crop was 9 percent harvested, well above the 1 percent five-year average pace. USDA said Kansas was 4 percent harvested; Oklahoma 41 percent, and Texas 27 percent. Kansas City Board of Trade hard red wheat futures closed sharply lower on Tuesday, with the July down 22 cents at $6.78 per bushel.