US Plains HRW Wheat-Bids flat/mixed after recent farmer sales

CHICAGO, March 2 (Reuters) - Basis bids for hard red winter wheat were steady to mixed in the southern U.S. Plains on Monday, dealers said.

• Dealers reported a small uptick in farmer selling last week.

• Farmers were preparing for the hard red winter wheat crop to grow after it went dormant for the winter, a dealer said.

• Recent rains have been favorable for the crop.

• K.C. May hard red winter wheat futures KWK26 reached the highest level since July at $5.95-1/4 per bushel before pulling back. By 12:20 p.m. CST (1820 GMT), the contract was down 9 cents at $5.71-1/2 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