US Plains HRW Wheat-Basis bids flat in quiet trade

CHICAGO, May 2 (Reuters) - Spot hard red winter wheat basis bids were unchanged in the U.S. Plains on Friday as most buyers finished rolling their basis bids to the July contract KWN25, ahead of the May contract's expiration date, and trade remained quiet as farmers assessed weather conditions for the winter wheat crop.

• Recent rain has boosted soil moisture in the southern Plains, where hard red winter wheat is grown, and more is expected next week, weather firm Vaisala said.

• Wheat futures ticked up on increased optimism over the U.S.-China trade relationship and a weakening dollar, but are set for a second weekly decline on improved weather in the U.S. Plains.

• A fall in the dollar against major currencies was also supporting prices, making U.S. grains more competitive on world markets.

• K.C. July hard red winter wheat futures KWN25 were last up 11-3/4 cents to $5.39-1/4 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. FOB Gulf Grain GRA/F