DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 42 cents under the March futures contract, while the DTN National Corn Index was 2 cents at $4.03. The national average basis for soybeans was 1 cent stronger at 70 cents under the January futures contract, while the DTN National Soybean Index was down 13 cents at $10.46. The national average basis for hard red winter (HRW) wheat is 1 cent stronger at 73 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 2 cents at $4.58. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 21 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was up 1 cent at $5.53.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.03	-$0.02	-$0.42	Mar	$0.003
Soybeans:	$10.36	-$0.13	-$0.70	Jan	$0.008
SRW Wheat:	$4.76	-$0.04	-$0.60	Mar	$0.001
HRW Wheat:	$4.58	-$0.02	-$0.73	Mar	$0.007
HRS Wheat:	$5.53	$0.01	-$0.20	Mar	$0.011

CORN:

The national average corn basis for Friday was 42 cents under the March futures, unchanged from Thursday's basis. PNW basis for Dec. is steady at +100H and Jan. is steady at +115H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +74H and track St. Louis is steady at +16H. Processors are mixed with Cedar Rapids, Iowa, 3 cents stronger at -7H; Fort Dodge, Iowa, is 4 cents stronger at -36H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is steady at -5H; Mitchell, South Dakota, is 3 cents weaker at -69H; Blair, Nebraska, is steady at -14H; Hastings, Nebraska, is at -48H; Lincoln, Nebraska, is at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -17H; St. Paul, Minnesota river basis is steady at +65H; and Marshall, Minnesota, is steady at -40H.

SOYBEAN:

The national average soybean basis for Friday was 70 cents under the January futures, 1 cent stronger than Thursday's basis. PNW basis for Jan. is steady at +120F. Dec. CIF basis is steady at +86F and Dec. track St. Louis is steady at +26F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at option the F; St. Paul, Minnesota, is steady at -69F and basis on the Illinois River at Havana, Illinois, is 6 cents stronger at +2F. There is concern that ice is building on the Illinois River and ice couplings are now mandatory at Starved Rock. Processors are mixed with Council Bluffs, Iowa, steady at -45F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is steady at -25F; Sioux City is steady at -45F; Decatur, Illinois, is steady at +8F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -80F; NDSP Casselton, North Dakota is steady at -75F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -55F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is 3 cents stronger at -96F; and Mankato, Minnesota, is 2 cents stronger at -38F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $500 over against offers of plus $1200 over, Jan. is bid plus $1000 over against no offers and J, F, M is bid plus $1000 over against offers of plus $1750 over. UP secondary freight for returns is bid plus $100 over against no offers, Dec. is bid plus $50 over against offers of plus $250 over and J,F,M is bid plus $100 over against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 60 cents under the March futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 73 cents under the Kansas City March futures, 1 cent stronger than Thursday's basis. Spot premiums were mixed with ordinary protein through 11% steady at +130; 11.2% through 11.8% steady at +135; 12% through 12.2 was down 5 at +135; 12.4% through 12.6% was down 17 at +135; 12.8% was down 17 at +135; 13% through 13.4% down 10 at +150; 13.6% through 13.8% is steady at +150 and 14% was steady at +177 Gulf bid for spot 11% protein is down 15 at +110 with no protein bumps. PNW 11.5% is steady at +150, while Texas Gulf basis for 11% is steady at +125.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 20 cents under the MIAX Minneapolis March futures, 1 cent stronger than Thursday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the March MIAX spring wheat futures: 12% proteins were not quoted; 13% proteins are were not quoted; 13.5 proteins are unchanged +200; 14 proteins are unchanged at +155N to +200N; 14.5% proteins were unchanged at +250N; 15% proteins are unchanged at +275N to +230N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 18 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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