US Plains HRW Wheat-Basis bids steady to higher as contracts roll

CHICAGO, July 3 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady to higher in the U.S. Plains states on Thursday as dealers rolled to the September contract.

• Wheat futures fell as abundant global supplies hung over the wheat market, with the U.S. winter wheat crop progressing while crops in Europe and the Black Sea region are expected to be sizeable despite harsh weather.

• Protein premiums for railcar wheat shipped to and through Kansas City lost 10 cents for "ordinary" wheat to wheat with 11.2% and 12.4% protein. It lost 15 cents for wheat with 11.4% to 12.2% protein. It lost 85 cents for wheat with 12.6% protein. KCBT/SCA

• K.C. September hard red winter wheat KWU25 settled 6-1/4 cents higher to $5.36 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