DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 40 cents under the December futures contract, while the DTN National Corn Index was up 3 cents at $3.73. The national average basis for soybeans was 1 cent stronger at 75 cents under the November futures contract, while the DTN National Soybean Index was down 1 cent at $9.31. 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 up 7 cents at $4.19. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 39 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 3 cents at $5.14.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.73	$0.03	-$0.40	Dec	$0.006
Soybeans:	$9.31	-$0.01	-$0.75	Nov	$0.005
SRW Wheat:	$4.34	$0.04	-$0.67	Dec	$0.003
HRW Wheat:	$4.19	$0.07	-$0.70	Dec	$0.002
HRS Wheat:	$5.14	$0.03	-$0.39	Dec	$0.007

CORN:

The national average corn basis for Tuesday was 40 cents under the December futures, 1 cent stronger than Monday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is 2 cents stronger at +82Z and track St. Louis is 4 cents weaker at +14Z. Processors are mixed with Cedar Rapids, Iowa, steady 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 steady at -22Z; Hastings, Nebraska, is 5 cents stronger at -32Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -18Z; and Marshall, Minnesota, is 7 cents weaker at -47Z.

SOYBEAN:

The national average soybean basis for Tuesday was 75 cents under the November futures, 1 cent stronger than Monday's basis. PNW basis for Oct. is steady at +80X. CIF basis is 5 cents weaker at +75X and track St. Louis is 5 cents weaker at +10Z. 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 3 cents weaker at -21X. 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 10 cents stronger at -45X; Decatur, Illinois, is 5 cents stronger at option the X; Volga, South Dakota, is steady at -90X; Spiritwood, North Dakota, is 5 cents weaker at -100X; 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 10 cents stronger at -30X. BN secondary shuttle freight for returns is not bid or offered, Oct. is bid plus $500 over against offers of plus $800 over and November is bid plus $400 over against offers of plus $700 over. UP secondary freight for returns is not bid or offered, Oct. is bid plus $400 over against no offers and Nov. is bid plus $200 over against offers of plus $350 over.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 70 cents under the Kansas City December futures, unchanged from Monday's basis. Spot premiums were steady to higher as mills looking for spot needs. Ordinary protein is steady at +90; 11.0% through 11.2% unchanged at _95; 11.4% through 11.8% is up 10 at +115; 12% is steady through 12.2% up 17 at +115; 12.4% is up 9 at +109; 12.6 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 up 5 at +135Z. South Korean flour milling tendered for 95,000 mt of milling wheat, with 50,000 mt U.S. and balance Canadian.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 39 cents under the MIAX Minneapolis December futures, 1 cent stronger than Monday'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 at +100; 14 proteins were up 25 to up 10 at +125 to +130; 14.5% proteins were at +125B; 15% proteins were up 35 +250B and 16% proteins were not quoted. Wheat receipts on the exchange floor were 13 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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