US Plains HRW Wheat-Basis bids mostly steady as futures drift lower

CHICAGO, Aug 18 (Reuters) - Spot basis bids for hard red winter wheat held mostly steady around the southern U.S. Plains on Monday in slow trade as futures prices eased, grain merchants said.

• Farmer sales remained slow on Monday as growers in the southern Plains have locked away their recently harvested grain and are unlikely to liquidate further supplies until prices improve, merchants said.

• The U.S. Department of Agriculture is due to issue its weekly crop progress report on Monday afternoon. Analysts polled by Reuters expect the agency to report the winter wheat harvest at 95% complete as of Sunday. The harvest in the southern Plains states of Kansas, Oklahoma and Texas was already wrapped up, USDA data showed.

• K.C. September hard red winter wheat futures KWU25 were 3/4 cent lower near the close on Monday $5.06-1/4 a bushel after setting a contract low last week.

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