US Plains HRW Wheat-Basis bids flat as futures climb

CHICAGO, Feb 19 (Reuters) - Basis bids for hard red winter wheat were unchanged in a spot check of locations in the Southern U.S. Plains on Thursday as futures gained ground.

• K.C. wheat futures shot up on trader concerns that dryness in the Southern Plains will damage the winter wheat crop exiting dormancy.

• Wildfires are raging in parts of Kansas, Oklahoma and Texas, but dealers in a spot check of locations on Thursday had not seen effects on their trade so far.

• Protein premiums for wheat shipped by rail to and through Kansas City rose 1 cent for wheat with 11.4%-11.8% protein. It was unchanged for all other grades of wheat. KCBT/SCA

• K.C. March hard red winter wheat KWH26 rose 14-1/2 cents to $5.65-1/2 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