US Plains HRW Wheat-Basis steady, rains expected later this week

CHICAGO, Nov 18 (Reuters) - Basis bids for hard red winter (HRW) wheat held mostly steady at grain elevators in the southern U.S. Plains on Tuesday and protein premiums for railcar wheat to or through Kansas City were unchanged after easing a day earlier, dealers said.

• Cash trade in wheat was quiet as K.C. HRW wheat futures stayed in a sideways trading pattern and Plains farmers wrapped up the harvest of fall crops such as corn and sorghum.

• Rains were forecast for the southern Plains late this week that should help to recharge soil moisture. The storms could produce 1 to 3 inches (2.5 to 7.6 cm) of rain or more, the U.S. Department of Agriculture said in a daily weather note.

• The U.S. winter wheat crop was 92% seeded as of Sunday, the USDA reported late on Monday in its first weekly crop progress report since September, before releases were paused by the government shutdown.

• The USDA rated 56% of the winter wheat in top producer Kansas as good to excellent, up from 49% a year ago, and Oklahoma's crop was rated 39% good to excellent, compared with 37% a year ago.

• K.C. December hard red winter wheat KWZ25 futures settled down 2-1/2 cents at $5.26-1/4 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