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Hard red winter wheat basis bids were mixed across US Plains locations as Kansas City December futures fell 20.5 cents to $6.19 per bushel. Protein premiums for some railcar grades dropped 3 to 10 cents, while others were unchanged.
Lower Kansas City HRW futures and softer protein premiums reduce the cost of wheat for feed users, a modest bearish signal for wheat-based feed ingredients.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.