Basis bids mostly unchanged in the southern Plains
CHICAGO, Aug. 5 (Reuters) - Basis bids for hard red winter wheat were mostly unchanged around the southern U.S. Plains on Wednesday, underpinned by slow farmer sales but capped by higher futures prices.
Many growers booked some grain sales during a futures price climb to multi-year highs in late July amid fighting between major wheat exporters Russia and Ukraine that fueled concerns about disruptions to grain shipments from the Black Sea region. Futures have since retreated and farmers are waiting for higher prices before booking fresh sales, grain merchants said.
The U.S. Department of Agriculture is due to release weekly export sales data early on Thursday. Analysts surveyed by Reuters, on average, expect net sales of all U.S. wheat between 250,000 and 450,000 metric tons.
K.C. September HRW wheat futures KWU26 last traded 8 cents higher at $7.15 per bushel. On Monday, the contract touched its lowest level since July 15.
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