Spot basis bids for hard red winter wheat in the US Plains held steady on Thursday in a quiet market. Winter wheat seeding continued at a good pace though welcome rain showers interrupted planting in parts of the Plains region. Drought continued to plague much of the High Plains.
Severe or worse drought levels covered 83.80 percent of the region, up from 82.81 the prior week, according to the Drought Monitor, a compilation of data gathered by federal and academic climatologists. Kansas City Board of Trade hard red winter wheat futures ended Wednesday with the December contract down 16-1/2 cents at $8.94-1/2. The US Department of Agriculture said on Thursday that weekly export sales of US wheat totaled 426,000 tonnes for the 2012/13 marketing year, down 13 percent.