Spot basis bids for hard red winter wheat in the southern US Plains on Thursday were unchanged as farmers watched futures follow other grain markets higher, merchants said. As of 1:18 pm CDT (1818 GMT), K.C. July HRW wheat futures were up 6 cents at $4.62 per bushel. Chicago Board of Trade soybeans nearly hit a two-year high as corn reached its highest level since July 2015.
Wheat producers are content to monitor crop conditions and early phases of harvesting in the aftermath of recent rains in Texas and Oklahoma. Protein premiums for wheat shipped to and through Kansas City were up 6 cents per bushel on Wednesday, suggesting better demand from flour mills.