US Plains HRW Wheat-Basis steady, farmers face dryness while planting

CHICAGO, Sept 27 (Reuters) - Spot basis bids held steady for hard red winter wheat in the southern U.S. Plains on Friday, dealers said, as some farmers grappled with dry planting conditions.

* A shortage of soil moisture may impede the establishment of crop in drought-hit areas of the Plains, the U.S. Department of Agriculture said in a daily weather report.

* The USDA is slated to issue a weekly update on planting progress on Monday. Plantings were 16% complete in Kansas and Oklahoma as of Sept. 22.

* Analysts surveyed by Reuters on Monday expect the USDA to report Sept. 1 wheat stocks at a four-year high of 1.973 billion bushels, and to trim its estimate of U.S. 2024/25 hard red winter wheat production.

* K.C. December hard red winter wheat futures KWZ24 ended down 2-1/4 cents at $5.76-3/4 a bushel. WHE/C

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-11	+	Z	-11	+	Z	$5.66
Newton	-40	+	Z	-40	+	Z	$5.37
Goodland	-75	+	Z	-75	+	Z	$5.02
TEXAS
Gulf track*	+100	+	Z	+100	+	Z	$6.77
Galveston**	+100	+	Z	+100	+	Z	$6.77
OKLAHOMA
Enid	-17	+	Z	-17	+	Z	$5.60
Catoosa	-10	+	Z	-10	+	Z	$5.67

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. CIF Gulf Grain GRA/C

* U.S. FOB Gulf Grain GRA/F

(Reporting by Tom Polansek; Editing by Will Dunham)

((Thomas.Polansek@thomsonreuters.com))