US Plains HRW Wheat — Basis bids flat to down as futures weaken

CHICAGO, Oct 15 (Reuters) — Spot basis bids for hard red winter were steady to lower in a spot check of locations in the US southern Plains on Thursday as futures ticked down. The basis fell in Enid, Oklahoma but were unchanged elsewhere in a spot check. CBOT wheat futures retreated as early support from concerns about Black Sea shipping gave way to technical selling and spillover pressure from lower corn and soy. GRA/ Showers continued to delay field work at a time when higher wheat prices have made the crop more attractive for farmers to grow, but drier weather is expected to allow it to speed up after Thursday, according to Commodity Weather Group. In Kansas, plantings were 44% complete, compared to the average of 56%, according to USDA. Oklahoma's crop was 28% planted, behind the average of 48%. K.C. December hard red winter wheat settled 2 cents lower at $7.13 a bushel. Basis values are quoted against futures in cts/bu: Current Previous Cash basis basis price Kansas Wichita -44 + Z -44 + Z $6.69 Newton -69 + Z -69 + Z $6.44 Goodland -65 + Z -65 + Z $6.48 Texas Gulf track* +95 + Z +95 + Z $8.08 Galveston** +100 + Z +100 + Z $8.13 Oklahoma Enid -25 + Z -20 + Z $6.88 Catoosa -75