Cash basis bids for hard red winter wheat held steady across the southern US Plains on Friday, supported by slow country movement, grain dealers said. K.C. hard red winter wheat futures fell on Friday, flirting with five-year lows and chilling selling interest from farmers. With cash prices at current levels, farmers were likely to hold off on any new sales until they needed to clear out space in their storage bins for crops they will harvest this summer, dealers said.
Weak demand from exporters and end users kept dealers from boosting basis levels despite the slow pace of selling. KC May wheat was 9-3/4 cents lower at $5.06-3/4 a bushel at $10.10 am CDT (1510 GMT).