Spot basis bids for hard red winter (HRW) wheat held steady across the southern US Plains on Thursday in quiet trade as farmers continued to store their grain awaiting higher prices, traders said. Chicago Board of Trade futures prices firmed on Thursday for the first time in seven sessions. But cash prices remain below farmers' targeted selling levels, grain dealers said. K.C. December HRW wheat traded on the Chicago Board of Trade rose 4-3/4 cents to $4.20-1/2 a bushel by 10:47 am CDT (1547 GMT).
The US Department of Agriculture reported export sales of US wheat in the latest week at 347,800 tonnes, in line with trade expectations for 250,000 to 450,000 tonnes. The sales total included 167,700 tonnes of HRW wheat, mostly to Mexico. Protein premiums for railcar wheat to and through Kansas City rose by 10 cents a bushel for 12.0 percent protein wheat but other grades were unchanged, according to the latest date from CME Group.