The increased offers came after Kansas City Board of Trade HRW wheat futures settled Tuesday with benchmark March up 5-1/4 cents at $3.85-3/4 per bushel and May up 4-1/2 cents at $3.77. March wheat ran up to a high point of $3.86 late, the highest level since October 14.
An influx of railcars to Kansas City on Tuesday afternoon contributed to a drop in protein premiums. The scale was down 1 to 5 cents a bushel with the steepest decline for 11.80 percent protein wheat, "Farmers are selling some," said one Kansas City cash trader.
Weather continued to be closely watched, as extremely dry conditions in Texas continued to cause crop deterioration there. It was so dry that winter wildfires were ravaging parts of the state.