US Plains HRW Wheat-Basis bids rise, protein premiums flat

CHICAGO, Jan 8 (Reuters) - Basis bids for hard red winter wheat were steady to higher in the U.S. Plains states on Wednesday as costs of shipping decreased and market players awaited an upcoming set of U.S. Department of Agriculture reports.

* The spot basis at an elevator in Catoosa, Oklahoma, rose by 5 cents.

* Protein premiums for HRW wheat shipped by rail to or through Kansas City were unchanged. KCBT/SCA

* On Friday, the U.S. Department of Agriculture will report quarterly stocks data as well as the number of U.S. winter wheat acres that were planted last autumn for harvest in 2025.

* The U.S. Department of Agriculture rated 47% of the Kansas winter wheat crop in good-to-excellent condition, as of Jan. 5, down from 55% in late November. Wheat ratings also declined during December in Nebraska, Oklahoma and South Dakota, but improved in Montana and Colorado.

* Market players are also awaiting president-elect Donald Trump's upcoming inauguration for clarity on trade and tariff policies, dealers said.

* The Chicago Board of Trade K.C. March wheat contract KWH25 was last down 5-3/4 cents to $5.50 per bushel.

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 Heather Schlitz
Editing by Mark Potter)

((Heather.Schlitz@thomsonreuters.com;))