US Plains HRW Wheat-Basis bids remain steady with more rain forecast for the Plains

CHICAGO, June 10 (Reuters) - Spot basis bids for hard red winter wheat remained flat in the southern U.S. Plains on Tuesday as the harvest continued to face delays because of rainy weather, according to analysts.

• Showers are likely to continue to interrupt wheat harvests in the Plains in the coming weeks, according to forecaster Commodity Weather Group.

• The U.S. Department of Agriculture reported 4% of the winter wheat crop has been harvested, below the average trade guess of 8% harvested in its weekly crop progress poll.

• Protein premiums for railcar wheat shipped to and through Kansas City fell 10 cents a bushel for wheat with 14 percent protein and were unchanged for all other grades.

• Dry conditions have plagued wheat-growing areas of the U.S., although recent rainfall has helped alleviate some drought stress.

• Chicago Board of Trade July K.C. HRW wheat KWN25 futures settled 10-1/4 cents lower at $5.27-1/4 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