US Plains HRW wheat-basis bids steady as futures extend losses
WEAT•Spot bids for hard red winter wheat were steady in the southern US Plains on Friday as US wheat futures fell. K.C. December HRW wheat settled down 5 cents at $7.62 per bushel.
1. Futures and bids
Spot basis bids for hard red winter wheat held steady in the southern US Plains. Merchandisers said futures slipped under pressure from diplomatic efforts to ease disruption to Black Sea grain exports, while a lack of details about agricultural deals during a US-China summit also weighed on prices. Kansas City December HRW wheat settled down 5 cents at $7.62 per bushel; railcar protein premiums fell 5 cents for specified wheat grades.
