U.S. Plains HRW Wheat-Basis steady; protein premiums firm

CHICAGO, Aug 25 (Reuters) - Spot basis bids for hard red winter wheat were mostly flat at grain elevators in the southern U.S. Plains on Monday as K.C. HRW wheat futures sagged.

• K.C. September hard red winter wheat futures KWU25 settled down 1-1/4 cents on Monday at $4.96-3/4 per bushel after posting a life-of-contract low at $4.95-3/4.

• But protein premiums for HRW wheat shipped by rail to or through Kansas City improved, a typical sign of demand from domestic flour mills.

• Premiums rose by 10 cents a bushel for wheat with 11.0% through 11.6% protein, and rose by 5 cents for wheat with 11.8% through 12.4% protein. Premiums for other grades were unchanged. KCBT/SCA

• The U.S. Department of Agriculture reported export inspections of U.S. wheat in the latest week at 946,472 metric tons, topping a range of trade expectations for 350,000 to 550,000 tons. USDA/I

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