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

CHICAGO, Feb 5 (Reuters) - Basis bids for hard red winter wheat were steady in the U.S. Southern Plains on Thursday as futures gained ground.

• Warmer temperatures and wetter weather in the next six to 10 days are expected to benefit the Southern Plains winter wheat crop, according to forecaster Vaisala.

• Protein premiums for railcar wheat to and through Kansas City rose 23 cents a bushel for wheat with 12% protein content, 21.5 cents for wheat with 12.2% protein and 23 cents for wheat with 12.4% protein, and were unchanged for other grades. KCBT/SCA

• K.C. March HRW wheat futures KWH26 settled 8 cents higher at $5.38-1/2 per bushel.

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