US Plains HRW Wheat-Basis bids hold steady as futures fall

CHICAGO, July 21 (Reuters) - Spot basis bids for U.S. Plains hard red winter wheat were flat in the U.S. Plains on Monday amid light farmer selling and quiet trade.

• Chicago Board of Trade wheat futures ended lower on Monday as farmers in Russia began selling more wheat, the U.S. winter wheat harvest progressed, and weather for the spring wheat crop looked favorable.

• The U.S. winter wheat harvest is speeding along. The USDA reported 73% of the crop has been harvested, compared to 63% harvested in the previous week.

• K.C. September hard red winter wheat futures KWU25 ended 3-1/4 cents lower at $5.25-3/4 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