Hard red winter wheat basis bids were unchanged in the southern US Plains on Thursday amid a slow pace of farmer sales and limited demand from exporters and flour millers, dealers said. Futures for the wheat variety fell nearly 1 percent to the lowest levels in about a month, chilling the already lackluster selling interest from farmers who had reduced planted acres last year due to poor economics for raising the crop.
Weekly US export sales of HRW wheat were a net reduction of 24,300 tonnes as cancellations by Japan and Mexico offset small new sales to Taiwan and Indonesia, US Department of Agriculture data showed.