DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 41 cents under the December futures contract, while the DTN National Corn Index was down 3 cents at $3.70. The national average basis for soybeans was steady at 76 cents under the November futures contract, while the DTN National Soybean Index was up 1 cent at $9.32. The national average basis for hard red winter (HRW) wheat was steady at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 2 cents at $4.11. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 40 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.11.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.70	-$0.03	-$0.41	Dec	-$0.004
Soybeans:	$9.32	$0.01	-$0.76	Nov	$0.003
SRW Wheat:	$4.30	-$0.02	-$0.67	Dec	$0.001
HRW Wheat:	$4.11	-$0.02	-$0.70	Dec	-$0.003
HRS Wheat:	$5.11	-$0.01	-$0.40	Dec	-$0.007

CORN:

The national average corn basis for Monday was 41 cents under the December futures, 1 cent weaker than Friday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is steady at +80Z and track St. Louis is steady at +18Z. Processors are mixed with Cedar Rapids, Iowa, 1 cent stronger at -24Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -25Z; Des Moines, Iowa is steady at -20Z; Decatur, Illinois, is steady at -13Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is 5 cents stronger 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 3 cents weaker at -40Z.

SOYBEAN:

The national average soybean basis for Monday was 76 cents under the November futures, unchanged from Friday's basis. PNW basis for Oct. is steady at +80X. CIF basis is steady at +80X and track St. Louis is steady at +15Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -15X; St. Paul, Minnesota, is steady at -55X and basis on the Illinois River at Havana, Illinois, is steady at -18X. Processors are mixed with Council Bluffs, Iowa, steady at -60X; Des Moines, Iowa is steady at -20X; Cedar Rapids, Iowa, is steady at -40X; Sioux City is steady at -55X; Decatur, Illinois, is steady at -5X; Volga, South Dakota, is 5 cents stronger at -90X; Spiritwood, North Dakota, is 5 cents weaker at -95X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is steady at -75X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is steady at -40X. BN secondary shuttle freight for returns is not bid or offered, Oct. is bid plus $300 over against offers of plus $800 over and November is bid plus $400 over against offers of plus $800 over. UP secondary freight for returns is bid plus $400 over against offers of plus $700 over and Oct. is bid plus $300 over against offers of plus $700 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 67 cents under the December futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 70 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums were steady with ordinary protein up 5 at +90; 11.0% through 11.8% is up 5 at +95; 12% is steady at +98; 12.2% is steady at +98; 12.4% through 12.8% is steady at +100; 13% through 14% is steady at +117. Gulf bid for spot 11% protein was steady at +95Z with no protein bumps. PNW 11.5% is steady at +150Z, while Texas Gulf basis for 11% is steady at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 40 cents under the MIAX Minneapolis December futures, 1 cent weaker than Friday'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 unchanged at +100N to +120N; 14.5% proteins were not quoted; 15% proteins were unchanged at +175N to +225N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 0 cars, which includes zero train(s) (again today). 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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