US Plains HRW Wheat-Spot basis bids flat, trade quiet

CHICAGO, Nov 14 (Reuters) - Basis bids for hard red winter wheat were mostly unchanged in the U.S. Plains on Friday, dealers said.

• Roughly one-third of the wheat in the U.S. Plains is too dry, though rains forecast to fall next week are expected to ease dryness.

• Wheat is likely to go into dormancy around mid-December, an analyst note said.

• Wheat futures ticked lower after a bearish supply and demand report from the U.S. Department of Agriculture.

• K.C. December hard red winter wheat KWZ25 was last down 12 cents to $5.13-3/4 per 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