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Spot basis values for hard red winter wheat were unchanged on Friday, with country dealings thin as farmers focused on fieldwork, merchants said. "It's awful quiet," said one Goodland, Kansas, wheat dealer. Farmers were still planting wheat in some areas and spraying for insects in others.

Weather remained mild in the Plains with wheat emerging well, though added moisture in the region was desired.

Meteorlogix on Friday said there would be no significant rainfall in the US Plains hard red winter wheat region over the next seven to 10 days and temperatures would remain mostly above normal.

Meanwhile, protein premiums for railcar wheat to and through Kansas City were unchanged to 5 cents higher, with the greatest demand noted for ordinary supplies and 12.60-13.80 percent protein wheat.

On the export front, the market was taking note of claims by a United Nations committee that the Australian Wheat Board (AWB) paid more than $221.7 million to a Jordanian trucking company, which delivered kickbacks to former Iraqi leader Saddam Hussein's government. The AWB on Friday denied it knowingly made payments that were funnelled to the former Iraqi regime.

Copyright Reuters, 2005


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