Spot basis bids for hard red winter wheat delivered to terminals across the southern US Plains were flat on Monday morning, dealers said. Farmer sales were slow on the cash market, an Oklahoma dealer said. Many growers booked deals last week when the futures market rallied to a 4-1/2 month high.
The US Agriculture Department said on Monday that weekly export inspections of wheat totaled 260,555 tonnes, below the low end of trade estimates for 300,000 to 500,000 tonnes. USDA also said that private exporters reported the sale of 120,000 tonnes of hard red spring wheat for delivery to unknown destinations during the 2016/17 marketing year.
Protein premiums for railcar wheat to and through Kansas City were unchanged.