US Plains HRW Wheat — Basis flat, futures slide to three — month low

CHICAGO, Oct 16 (Reuters) — Basis bids for hard red winter wheat were unchanged in the southern US Plains, spot checks showed on Friday, as futures prices tumbled to a three-month low. Rains this week in the southern Plains provided recently planted crops ample moisture for germination, forecasters said. Drier conditions over the coming week should allow for continued planting progress, which stood at 51% complete as of last Sunday. The US Department of Agriculture is scheduled to issue an update on planting progress in a weekly report on Monday. K.C. December hard red winter wheat last traded 9 cents lower at $7.04 a bushel. The contract earlier dropped to $7.00-1/2 a bushel, its lowest since July 15. Basis values are quoted against futures in cts/bu: Current Previous Cash basis basis price Kansas Wichita -44 + Z -44 + Z $6.60 Newton -69 + Z -69 + Z $6.35 Goodland -65 + Z -65 + Z $6.39 Texas Gulf track* +95 + Z +95 + Z $7.99 Galveston** +100 + Z +100 + Z $8.04 Oklahoma Enid -25 + Z -25 + Z $6.79 Catoosa -75 + Z -75 + Z $6.29 NOTES: U = K.C. September contract; UNQ = Unquoted bids 0 = Option price NC = No comparison = No. 1 12 pct hard winter wheat * = Ordinary protein, rail bids L