US Plains HRW Wheat-Basis flat; grain movement slow after weekend storm

CHICAGO, Jan 27 (Reuters) - Basis bids for hard red winter wheat were unchanged in the southern U.S. Plains on Tuesday and grain movement remained slow as grain handlers, millers and producers continued to recover from a major weekend storm, merchandisers said.

• Up to a foot of snow (30.5 centimeters) fell in Oklahoma, complicating delivery logistics but offering protective insulation for winter wheat crops along with much-needed moisture. Lesser amounts of snow fell in Kansas and parts of the Texas Panhandle.

• Major roads were mostly cleared in northern Oklahoma by Tuesday and temperatures were rising close to 32 degrees Fahrenheit (zero Celsius), one grain dealer said.

• Mostly dry weather was forecast across large sections of the Plains through the end of the week, the U.S. Department of Agriculture said in a daily weather note.

• K.C. wheat futures closed higher on Tuesday with the March contract KWH26 settling up 3 cents at $5.32-3/4 a bushel. WHE/C

• Premiums for HRW wheat shipped by rail to or through Kansas City rose by 10 cents a bushel for wheat with 13.2% protein but fell by 2 cents for "ordinary" wheat with less than 11.0% protein. Premiums for other grades were unchanged. 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