US Plains HRW Wheat-Basis bids flat to higher as futures fall

CHICAGO, Feb 3 (Reuters) - Basis bids for hard red winter wheat were flat to higher in the U.S. Southern Plains on Tuesday as futures ticked slightly lower.

• There was limited farmer selling, dealers said, though the extreme cold of last week had eased.

• Snow cover largely protected the crop from winterkill during the severe cold snap.

• K.C. March HRW wheat futures KWH26 ended 1/2 cent lower at $5.34-3/4 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