DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 41 cents under the December futures contract, while the DTN National Corn Index was up 3 cents at $3.81. The national average basis for soybeans was steady at 78 cents under the November futures contract, while the DTN National Soybean Index was up 8 cents at $9.52. The national average basis for hard red winter (HRW) wheat was steady at 71 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 1 cent at $4.22. The national average basis for hard red spring (HRS) wheat was steady at 40 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 4 cents at $5.15.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.81	$0.03	-$0.41	Dec	$0.006
Soybeans:	$9.52	$0.08	-$0.78	Nov	$0.005
SRW Wheat:	$4.40	$0.01	-$0.67	Dec	$0.005
HRW Wheat:	$4.22	$0.01	-$0.71	Dec	-$0.003
HRS Wheat:	$5.15	$0.04	-$0.40	Dec	$0.004

CORN:

The national average corn basis for Wednesday was 41 cents under the December futures, unchanged from Tuesday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is steady at +79Z and track St. Louis is steady at option Z. Processors are mixed with Cedar Rapids, Iowa, 2 cents stronger at -25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 3 cents stronger at -25Z; Des Moines, Iowa is steady at -50Z; Decatur, Illinois, is steady at -13Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is steady at -22Z; Hastings, Nebraska, is steady at -38Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -18Z; and Marshall, Minnesota, is steady at -37Z.

SOYBEAN:

The national average soybean basis for Wednesday was 78 cents under the November futures, unchanged from Tuesday's basis. PNW basis for Oct. is 10 cents stronger at +80X. CIF basis is 9 cents stronger at +80X and track St. Louis is 7 cents stronger at +13Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 9 cents stronger at -15X; St. Paul, Minnesota, is steady at -65X and basis on the Illinois River at Havana, Illinois, is 8 cents stronger at -20X. The Mississippi River at Memphis and St. Louis got a bump in levels from the rain and for now, most draft and tow restrictions have eased. Processors are mixed with Council Bluffs, Iowa, steady at -60X; Des Moines, Iowa is steady at -50X; Cedar Rapids, Iowa, is steady at -50X; Sioux City is steady at -55X; Decatur, Illinois, is steady at -5X; Volga, South Dakota, is steady at -95X; Spiritwood, North Dakota, is 15 cents stronger at -95X; Hastings, Nebraska, is steady at -79X; Lincoln, Nebraska, is 25 cents weaker at -50X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is steady at -50X. BN secondary shuttle freight for returns is bid plus $400 over against offers of plus $500 over, FH Oct. is bid plus $300 over against no offers and LH Oct. is bid plus $500 over against offers of plus $800 over. UP secondary freight for returns is bid plus $300 over against no offers, FH Oct. is not bid or offered and LH Oct. is bid plus $300 over against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 67 cents under the December futures, 1 cent stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 71 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums were steady to higher with ordinary protein unchanged at +75; 11.0% was steady at +81; 11.2% is up 6 at +87; 12% is up 11 at +98; 12.2% is up 4 at +98; 12.4% through 12.8% is up 4 at +100; 13% through 14% is steady at +117. Gulf bid for spot 11% protein was up 5 at +95Z with no protein bumps. PNW 11.5% is up 5 at +150Z, while Texas Gulf basis for 11% is up 15 at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 40 cents under the MIAX Minneapolis December futures, unchanged from Tuesday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the December MIAX spring wheat futures: 12% proteins was not quoted; 13% proteins are not quoted; 13.5 proteins were not quoted; 14 proteins were down 5 to unchanged at +100 to +120N; 14.5% proteins were not quoted; 15% proteins were down 45 to up 5 at +175 to +225 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 30 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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