Cash basis bids for hard red winter wheat were steady in the US Plains on Tuesday. The condition of the new winter wheat crop was deteriorating in the southern US Plains due to dry conditions and winterkill damage has been noted by wheat experts in the central part of top wheat-producer Kansas.
As of Sunday, the US Department of Agriculture said 34 percent of the Kansas wheat crop was rated in good to excellent condition, down from 37 percent a week earlier. In Oklahoma, another major wheat producing state, 18 percent of the wheat was rated good to excellent as of Sunday, down from 22 percent a week earlier, according to USDA. Protein premiums for railcar wheat to and through Kansas City dropped 1-10 cents a bushel for ordinary wheat through 13.60 percent protein wheat. At the Chicago Board of Trade, KCBT hard red winter wheat for May delivery traded at $7.54-1/2 early Tuesday.
