Cold temperatures in the Plains have moderated slightly in the last day, easing fears of crop damage from winterkill, the Commodity Weather Group said in a daily note. No winterkill threats are expected in the next two weeks, CWG said. The threat of imminent labor unrest at four ports in the US Pacific Northwest, a key wheat export terminal, was averted on Wednesday as the dockworkers union said its members would stay on the job despite "substandard" contract terms being imposed unilaterally by grain shippers. Both sides in the stalemate left open the door to further negotiations.
Protein premiums for wheat shipped by railcar through or to Kansas City were unchanged. USDA said it will issue its weekly export sales report on Friday, one day later than usual, due to the Christmas holiday. Kansas City Board of Trade March wheat futures settled on Wednesday at $8.24-1/2 per bushel.