Hard red winter wheat cash basis bids eased by 5 cents per bushel in Goodland, in north western Kansas, on Tuesday, pressured by lacklustre demand from flour mills and recent gains in futures, dealers said. Basis bids for HRW wheat were largely steady elsewhere, as were protein premiums for wheat shipped to and through Kansas City, in relative light dealings.
A dealer in Oklahoma said some wheat buyers have bought enough wheat to last nearly through the summer harvest, which could begin in June. The US Department of Agriculture late on Monday reduced wheat crop condition ratings in the top growing state of Kansas while crop ratings were largely unchanged or improved elsewhere in the country.