US Plains HRW Wheat-Basis remains flat, farmers harvest corn crop

Sept 11 (Reuters) - Basis bids for hard red winter (HRW) wheat stayed steady at grain elevators in the southern U.S. Plains on Thursday as farmers were harvesting corn, dealers said.

• Farmers in northern Oklahoma focused on bringing in their corn crops from the fields before turning to planting their next wheat crops, which they will harvest next year, a dealer said.

• Growers and traders were waiting for the U.S. Department of Agriculture to update grain supply and demand estimates in a monthly report on Friday.

• Analysts surveyed by Reuters on average expected the agency to trim its forecast of 2025/26 U.S. wheat ending stocks and raise its forecast of global wheat stocks.

• The USDA, in a separate report issued on Thursday, said weekly export sales of U.S. hard red winter wheat were 92,329 metric tons. Total weekly U.S. wheat export sales were 305,351 metric tons.

• K.C. December hard red winter wheat futures KWZ25 were up 1-1/4 cents at $5.08-1/4 per bushel by noon CDT (1700 GMT). WHE/C

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