US Plains HRW Wheat-Basis bids steady as harvest advances

CHICAGO, June 23 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were unchanged at elevators and mills in a spot check of the southern U.S. Plains on Monday.

• In its weekly crop progress and condition report, the U.S. Department of Agriculture rated 49% of the winter wheat crop good to excellent as of Sunday.

• The rating was 3 points below the previous week and 3 points below the average analyst estimates in a Reuters poll.

• The winter wheat crop harvest accelerated to 19% complete, up from 10% last week and just below the average analyst estimate of 20%.

• Drier weather in the central and southern Plains has favored winter wheat harvesting over the previous week.

• Protein premiums for railcar wheat shipped to and through Kansas City were unchanged for all protein grades of wheat.KCBT/SCA

• Chicago Board of Trade July K.C. HRW wheat KWN25 futures settled 13-3/4 cents lower at $5.65 a 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