US Plains HRW Wheat-Basis bids unchanged, dryness worries farmers

CHICAGO, March 14 (Reuters) - Spot basis bids for hard red winter wheat were unchanged in the U.S. southern Plains on Friday, grain dealers said, as dry conditions worried some farmers.

Farmers in Kansas, the biggest winter-wheat growing state, are largely holding off on selling crops because they remain unsure about risks for dryness to constrain production, a dealer said.

Weather forecasts project limited rain in Kansas heading into the end of March, brokers said. On Friday, strong winds were whipping through parts of the Plains.

K.C. May hard red winter wheat futures KWK25 ended down 1-1/2 cents at $5.86 per bushel after hitting the highest price since Feb. 27.

Protein premiums for HRW wheat shipped by rail to or through Kansas City were unchanged for most protein levels. Premiums rose by 4 cents a bushel for wheat with 11.4% and 11.6% protein. KCBT/SCA

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