Basis bids for hard red winter wheat in the US Plains were unchanged in quiet dealings ahead of the Christmas holiday. Many merchants were closing early on Monday and were to be closed on Tuesday for Christmas Day. Despite snowfall last week, wheat experts said moisture totals were not nearly enough to relieve drought-parched soils. A dip in temperatures this week in the Plains could further stress the poorly established new wheat crop, experts said.

Kansas City Board of Trade March wheat futures ended Friday at $8.42.

Copyright Reuters, 2012