US Plains HRW Wheat-Basis bids flat in muted trade

CHICAGO, Nov 24 (Reuters) - Basis bids for hard red winter wheat were unchanged in the U.S. Midwest on Monday amid slow pre-holiday trade, dealers said.

• Movement has been sluggish ahead of Thursday's Thanksgiving holiday, when markets will be closed.

• Weekend rains over the U.S. Plains improved moisture levels for the winter wheat crop, though roughly one-quarter of the crop remains too dry, an analyst note said.

• K.C. March hard red winter wheat KWH25 futures were last down 2-3/4 cents to $5.23-1/2 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