US Plains HRW Wheat-Basis bids steady, farmer selling slows

CHICAGO, March 12 (Reuters) - Spot basis bids for hard red winter wheat were mostly stable in the U.S. Plains on Wednesday as farmer selling remained limited due to weak prices, dealers said.

Weather outlooks are trending drier across the central Plains into April and May, which would stress winter wheat crops, forecaster Maxar said.

A grain dealer in Oklahoma said crops could benefit from more rain.

K.C. May hard red winter wheat futures KWK25 were up 1-3/4 cents at $5.73-3/4 per bushel ahead of the end of trading, after setting a contract low of $5.41-1/2 last week.

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. FOB Gulf Grain GRA/F