US Plains HRW Wheat-Basis bids steady as snow stalls movement

CHICAGO, Jan 30 (Reuters) - Basis bids for hard red winter wheat were steady in the U.S. Plains on Friday as snow stalled movement but lessened the risk of winterkill for the dormant wheat crop.

• Traders are monitoring winterkill risks for the Black Sea winter wheat crop.

• The U.S. Department of Agriculture said net export sales of all U.S. wheat in the week ended January 22 dipped to 558,201 metric tons, down from a nine-week high in the previous week but in line with trade estimates.

• K.C. March HRW wheat futures KWH26 were down 5 cents to $5.42 per bushel as of midday.

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