US Plains HRW Wheat-Spot basis bids mostly steady, harvesting nearly done

CHICAGO, July 16 (Reuters) - Spot basis bids for hard red winter wheat held mostly steady across the southern U.S. Plains on Thursday as futures eased and the harvest wound down in top HRW wheat-growing states, merchants said.

• Farmer sales were slow as prices remained just above recent two-month lows amid ample global wheat supplies.

• The U.S. Department of Agriculture said net U.S. wheat export sales in the week ended July 10 totaled 494,400 metric tons, in line with trade estimates for 300,000 to 700,000 tons. The total included 327,700 tons in HRW wheat sales.

• Protein premiums for railcar wheat shipped to and through Kansas City were 8 cents a bushel lower for 11.2% to 12.4% protein wheat and unchanged for all other protein grades. KCBT/SCA

• K.C. September hard red winter wheat futures KWU25 last traded 4-1/4 cents lower at $5.18-1/2 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