DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 38 cents under the December futures contract, while the DTN National Corn Index was up 4 cents at $3.97. The national average basis for soybeans was steady at 76 cents under the January futures contract, while the DTN National Soybean Index was up 13 cents at $10.58. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 68 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $4.72. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 23 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.34.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.97	$0.04	-$0.38	Dec	$0.001
Soybeans:	$10.58	$0.13	-$0.76	Jan	-$0.001
SRW Wheat:	$4.91	$0.01	-$0.64	Dec	-$0.034
HRW Wheat:	$4.72	$0.04	-$0.68	Dec	$0.007
HRS Wheat:	$5.34	-$0.01	-$0.23	Dec	-$0.001

CORN:

The national average corn basis for Wednesday was 38 cents under the December futures, unchanged from Tuesday's basis. PNW basis is steady at +112Z, while Hereford, Texas, is steady at +100Z. CIF basis is 5 cents weaker at +85Z and track St. Louis is steady at +25Z. Processors are mixed with Cedar Rapids, Iowa, 5 cents weaker at -26Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is steady at -22Z; Des Moines, Iowa, is steady at -28Z; Decatur, Illinois, is steady at -5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is steady at -27Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -30Z; St. Paul, Minnesota river basis is steady at -40Z and Marshall, Minnesota, is steady at -35Z.

SOYBEAN:

The national average soybean basis for Wednesday was 76 cents under the January futures, unchanged from Tuesday's basis. PNW basis for November is 10 cents weaker at +90F, while LH Dec. is at +120F. CIF basis for November is 5 cents weaker at +75F and track St. Louis is 1 cent stronger at +20F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents stronger at +5F; St. Paul, Minnesota, is at -60F and basis on the Illinois River at Havana, Illinois, is at +5F. Processors are mixed with Council Bluffs, Iowa, is steady at -50F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is 10 cents weaker at -25X; Sioux City is steady at -40F; Decatur, Illinois, is at +6F; Volga, South Dakota, is at -70F; Spiritwood, North Dakota, is at -85F; NDSP Casselton, North Dakota is steady at -79F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is at -45F; Aberdeen, South Dakota, is 5 cents stronger at -85F; Mitchell, South Dakota, is at -85F; and Mankato, Minnesota, is steady at -30F. BN secondary shuttle freight for returns is bid plus $700 over against offers of plus $1000 over, FH Nov is bid plus $700 over against no offers and LH November is bid plus $400 over against offers of plus $900 over. UP secondary freight for returns is bid even money against no offers, FH Nov. is bid even money against no offers and LH Nov. is bid even money against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 64 cents under the December futures, 3 cents weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 68 cents under the Kansas City December futures, 1 cent stronger than Tuesday's basis. Spot premiums were higher today as mills continue their buying spree. Ordinary protein is up 10 at +130; 11.0% through 11.2% was up 10 at +140; 11.4% through 11.6% is steady at +150; 11.8% through 12.6 is steady at +165; 12.8 through 13.8% is up 25 at +160 and 14% is up 10 at +160. Gulf bid for spot 11% protein is steady at +125Z with no protein bumps. PNW 11.5% is steady at +160Z, while Texas Gulf basis for 11% is steady at +155Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 23 cents under the MIAX Minneapolis December futures, 1 cent weaker than 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 were not quoted; 13% proteins are not quoted; 13.5 proteins were up 55 at +165; 14 proteins were up 25 at +200; 14.5% proteins were unchanged at +175N; 15% proteins were unchanged to down 50 at +225N to +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 12 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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