US Plains HRW Wheat-Basis bids steady as futures tick up, trade subdued

CHICAGO, Dec 27 (Reuters) - Spot basis bids for hard red winter wheat were unchanged in the U.S. Southern Plains on Friday, a spot check showed, as futures made gains.

*K.C. HRW March wheat futures KWH25 were up 3-1/2 cents at $5.55 a bushel near the close of trading.

The USDA reported net weekly wheat export sales of 612,400 metric tons, above trade expectations for 250,000-600,000 metric tons, according to a Reuters poll.

Dry conditions in the Southern Plains are expanding, threatening wheat crop development, according to Commodity Weather Group.

Merchants said there was little farmer selling and trade was expected to stay quiet into the New Year.

Basis values are quoted against futures in cts/bu:

NOTES:

H = March, K = May, N = July, U = September

Z = December; UNQ = Unquoted bids

0 = Sp Option price; NC = No comparison

= No. 1 12% hard winter wheat, rail bids

= Ordinary protein, rail bids

LINKS:

K.C. HRW wheat protein scales KCBT/SCA

U.S. weekly wheat crop progress US/WHE

U.S. forward basis WHEAT/BASIS

U.S. Midwest cash grain PM GRA/PM

U.S. CIF Gulf Grain GRA/C

U.S. FOB Gulf Grain GRA/F

(Reporting by Renee Hickman; Editing by Aurora Ellis)

((renee.hickman@thomsonreuters.com))