Cash spot basis bids for hard red winter wheat were steady to firm in the southern US Plains on Monday and farmer selling was thin as producers focused on harvesting corn and seeding wheat, grain merchants said. K.C. hard red winter wheat futures were hovering just above multi-year lows, encouraging producers to store their grain and hold out for higher prices.
Analysts expect USDA later on Monday to show US winter wheat planting progress at 40 to 43 percent complete, up from 25 percent the previous week. Protein premiums for railcar wheat to and through Kansas City were unchanged on Friday after firming 3-8 cents a day earlier for wheat with 11.60 percent protein through 14.00 percent protein. Merchandisers saw no impact on prices from USDA's announcement on Friday of a second discovery of experimental, genetically modified wheat growing in a US state where it was not approved.