DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 39 cents under the December futures contract, while the DTN National Corn Index was down 5 cents at $3.84. The national average basis for soybeans was steady at 71 cents under the November futures contract, while the DTN National Soybean Index was down 3 cents at $9.71. The national average basis for hard red winter (HRW) wheat was steady at 69 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 1 cent at $4.32. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 34 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.24.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.84	-$0.05	-$0.39	Dec	-$0.001
Soybeans:	$9.71	-$0.03	-$0.71	Nov	$0.003
SRW Wheat:	$4.48	-$0.01	-$0.65	Dec	-$0.003
HRW Wheat:	$4.32	$0.01	-$0.69	Dec	-$0.004
HRS Wheat:	$5.24	-$0.01	-$0.34	Dec	$0.000

CORN:

The national average corn basis for Friday was 39 cents under the December futures, unchanged from Thursday's basis. PNW basis is steady for October at +110Z and steady for November at +115Z, while Hereford, Texas, is steady at +100Z. CIF basis is steady at +82Z and track St. Louis is steady at +21Z. Processors are steady with Cedar Rapids, Iowa, steady at -24Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is steady at -25Z; Des Moines, Iowa, is steady at -20Z; Decatur, Illinois, is steady at -5Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is steady at -25Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -25Z; St. Paul, Minnesota river basis is steady at -30Z and Marshall, Minnesota, is steady at -48Z.

SOYBEAN:

The national average soybean basis for Friday was 71 cents under the November futures, unchanged from Thursday's basis. PNW basis for Oct. is 10 cents stronger for November at +90X. CIF basis is steady at +89X and track St. Louis is steady at +25Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at option the X; St. Paul, Minnesota, is 10 cents stronger at -45X and basis on the Illinois River at Havana, Illinois, is 14 cents stronger at -8X. The Mississippi River at Memphis is at -8.11 feet below zero gauge and is expected to get a reprieve next week of a few feet. Rains are a blessing for now to let the heavy loads pass, but shoaling is popping up in parts of the far LMR. Processors are mixed with Council Bluffs, Iowa, steady at -55X; Des Moines, Iowa, is steady at -20X; Cedar Rapids, Iowa, is steady at -15X; Sioux City is steady at -35X; Decatur, Illinois, is steady at option the X; Volga, South Dakota, is 10 cents stronger at -75X; Spiritwood, North Dakota, is 5 cents stronger -85X; Casselton, North Dakota is 3 cents stronger at +67X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is steady at -60X; Aberdeen, South Dakota, is 5 cents stronger at -90X; Mitchell, South Dakota, is steady at -101X; and Mankato, Minnesota, is steady at -10X.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 65 cents under the December futures, 1 cent weaker than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 69 cents under the Kansas City December futures, unchanged from Thursday's basis. Spot premiums were steady with ordinary protein steady at +105; 11.0% through 11.2% was steady at +110; 11.4% through 12.4% is steady at +132; 12.6 through 13.8% is steady at +120 and 14% is steady at +150. Gulf bid for spot 11% protein is steady at +100Z with no protein bumps. PNW 11.5% is steady at +155Z, while Texas Gulf basis for 11% is steady at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 34 cents under the MIAX Minneapolis December futures, 1 cent weaker than Thursday'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 at +115; 13% proteins are not quoted; 13.5 proteins were not quoted; 14 proteins were up 20 to up 25 at +160 to +175; 14.5% proteins were at +200; 15% proteins were not quoted 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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