US Plains HRW Wheat-Basis bids mostly steady on light demand, slow farmer sales

CHICAGO, Dec 5 (Reuters) - Spot basis bids for hard red winter wheat were quietly unchanged around the U.S. Plains on Friday on slow farmer sales and dull demand, grain merchants said.

• HRW wheat futures on the Chicago Board of Trade eased on Friday but remained within a recent narrow trading range. Many farmers are waiting for prices to rise before booking further grain sales.

• The U.S. Department of Agriculture is due to release export sales data on Monday for the week ended November 6. Analysts surveyed by Reuters expect net wheat sales for that week between 250,000 and 600,000 metric tons.

• On Tuesday, the USDA will release its December crop supply and demand report. Analysts surveyed by Reuters expect the agency to reduce its U.S. wheat ending stocks estimate and raise its global ending stocks view amid strong harvests in key wheat-producing countries.

• K.C. March hard red winter wheat KWH26 futures last traded 2-3/4 cents lower at $5.31-1/4 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