REFILE-US Plains HRW Wheat-Basis bids flat, dryness expected in crop areas

CHICAGO, Dec 19 (Reuters) - Spot basis bids for hard red winter (HRW) wheat stayed unchanged at elevators in the southern U.S. Plains on Friday, merchandisers said.

• Mild, dry weather was expected into early next week in the region, meteorologists said.

• Warm temperatures reduce the risk for winterkill to hurt crops, while continued drier weather would maintain low moisture for winter wheat, according to forecaster Vaisala.

• K.C. March hard red winter wheat futures KWH26 were down 3/4 cent at $5.16-1/4 a bushel at 11:45 a.m. CST (1745 GMT). On Wednesday, the contract slumped to $5.03, its lowest level since October 14.

• The recent setback in prices encouraged demand from millers, merchandisers said.

• Protein premiums stabilized on Thursday after falling earlier this week. KCBT/SCA

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