Spot basis bids for hard red winter wheat on Thursday in the southern US Plains were unchanged as farmers eyed weaker futures prices, merchandisers said. Lower Chicago Board of Trade corn and soybeans weighed on K.C. hard red winter wheat contracts that were already under pressure from abundant domestic and global supplies.
HRW wheat basis bids for product shipped by barge to the US Gulf Coast were steady to firm due to increased demand for good quality product for export. Protein premiums for wheat shipped to and through Kansas City were unchanged on Wednesday. As of 1:09 pm CDT (1809 GMT), K.C. September HRW wheat futures were 5-1/4 cent per bushel lower at $4.07-1/4.