US Plains HRW Wheat-Basis bids unchanged as futures rise

CHICAGO, April 8 (Reuters) - Spot basis bids for hard red winter wheat (HRW) were flat in the U.S. Plains states on Tuesday as cash trade remained quiet and futures tipped higher, dealers said.

Wheat futures closed higher on Tuesday as the U.S. dollar was weaker and wet weather impacted some U.S. wheat-growing areas, according to analysts.

The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight

That comes in response to tariffs by China on U.S. products last week. Beijing retaliated with those tariffs in response to 34% reciprocal duties announced by Trump.

Drying for flooded U.S. soft wheat areas is expected to be slow for the next two weeks, according to Commodity Weather Group.

K.C. May HRW wheat futures KWK25 ended up 2-1/4 cents at $5.61-1/2 per bushel. MKTS/GLOB

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