Hard red winter wheat spot basis bids in the US Plains were steady to mixed Thursday, with wheat movement reported routine to slow, merchants said. The basis in Catoosa, Oklahoma, was 1 cent a bushel weaker, while Gulf CIF values climbed back 2 cents a bushel after falling a nickel a bushel earlier this week. Protein premiums fell off 1 cent a bushel for 11.60-percent protein through 13.80-percent protein wheat.

Slow movement was also tied to weak futures prices at the Kansas City Board of Trade. Futures finished flat to 3-1/2 cents lower Wednesday, with March at $3.23-1/2 per bushel, down 2-3/4 cents.

Copyright Reuters, 2005