Basis bids for hard red winter wheat in the US Plains were steady on Friday, with export demand noted and worries about crop troubles persisting. The first heavy winter storm of the season did little to ease drought conditions in the US Plains, where the bulk of the hard red winter wheat crop is grown, weather experts said on Friday.

Though six to 12 inches of snow, or more, fell from Nebraska into Wisconsin over the past two days, that is roughly equivalent to 0.50 inch to 1.00 inch of rain and not enough to eliminate drought worries, said MDA EarthSat Weather meteorologist Kyle Tapley. He said roughly 10 inches of moisture or rainfall would be needed in a large portion of the Plains to break the drought. Forecasters are predicting another storm that could bring rain to the US Plains next Wednesday and Thursday. Kansas City Board of Trade March wheat futures ended Thursday at $8.43-3/4.

Copyright Reuters, 2012