US Plains HRW Wheat-Basis bids flat, futures near eight-week low

CHICAGO, Dec 15 (Reuters) - Spot basis bids for hard red winter wheat stayed unchanged in the U.S. southern Plains on Monday, dealers said, as futures prices reached their lowest level in about eight weeks.

• Domestic and export business was lackluster, a broker said.

• The U.S. Department of Agriculture reported total U.S. wheat export sales were 361,715 metric tons in the week ended on November 20. Of that, 61,472 metric tons were hard red winter wheat.

• K.C. March hard red winter wheat futures KWH26 ended down 6 cents at $5.12 a bushel and reached the lowest price since October 23.

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