US Plains HRW Wheat-Basis bids flat as futures tumble

CHICAGO, Dec 12 (Reuters) - Spot basis bids for hard red winter wheat were flat in the U.S. Plains states on Friday as futures fell sharply.

• Dryness is expected in the southern U.S. Plains in the coming weeks, according to forecaster Vaisala.

• The wheat crop is in dormancy and has low moisture needs at the moment.

• Chicago Board of Trade wheat futures closed lower on Friday on plentiful global grain supplies and a lack of supportive news, traders said.

• K.C. March hard red winter wheat KWH26 ended down 4-1/4 cents at $5.18 a 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