U.S. Plains HRW Wheat-Basis steady as selling increases gradually

CHICAGO, May 7 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady in the southern U.S. Plains on Wednesday as K.C. HRW wheat futures KWN25 weakened and a quiet trade slowly picked up, according to dealers.

• Protein premiums for railcar wheat to and through Kansas City rose 3 cents a bushel for wheat with 11.80 percent protein and 7 cents for wheat with 12 percent protein, but were unchanged for other grades.KCBT/SCA

• Rains are expected to favor the Southern Plains region this week, according to forecaster Vaisala. The rain will further increase wetness concerns in the region.

• CBOT July wheat KWN25 settled down 8-1/2 cents to $5.29-1/2 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