DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 41 cents under the March futures contract, while the DTN National Corn Index was down 4 cents at $4.03. The national average basis for soybeans was 1 cent weaker at 70 cents under the January futures contract, while the DTN National Soybean Index was up 4 cents at $10.22. The national average basis for hard red winter (HRW) wheat was steady at 73 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 4 cents at $4.50. The national average basis for hard red spring (HRS) wheat was steady at 21 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.54.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.03	-$0.04	-$0.41	Mar	$0.000
Soybeans:	$10.22	$0.04	-$0.70	Jan	-$0.002
SRW Wheat:	$4.70	-$0.05	-$0.59	Mar	$0.002
HRW Wheat:	$4.50	-$0.04	-$0.73	Mar	-$0.002
HRS Wheat:	$5.54	-$0.01	-$0.21	Mar	$0.003

CORN:

The national average corn basis for Wednesday was 41 cents under the March futures, unchanged from Tuesday's basis. PNW basis for FH Jan is steady at +100H and LH Jan. is 5 cents stronger at +120H, while Hereford, Texas, is not bid. Dec. CIF basis is 2 cents stronger at +78H and track St. Louis is steady at +24H. Processors are mixed with Cedar Rapids, Iowa, 2 cents stronger at -5H; Fort Dodge, Iowa, is 1 cent stronger at -35H; Council Bluffs, Iowa, is 2 cents stronger at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is 1 cent stronger at +6H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is 3 cents stronger at -11H; Hastings, Nebraska, is at -48H; Lincoln, Nebraska, is at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is 3 cents stronger at -14H; St. Paul, Minnesota river basis is steady at +65H; and Marshall, Minnesota, is 2 cents stronger at -38H.

SOYBEAN:

The national average soybean basis for Wednesday was 70 cents under the January futures, 1 cent weaker than Tuesday's basis. PNW basis for Jan. is steady at +120F. Dec. CIF basis is 4 cents stronger at +86F and Dec. track St. Louis is 2 cents weaker at +22F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent weaker at -3F; St. Paul, Minnesota, is 2 cents weaker at -70F and basis on the Illinois River at Havana, Illinois, is steady at +2F. Ice is continues to build on the Illinois River causing shipping delays and ice couplings are now mandatory. Processors are mixed with Council Bluffs, Iowa, 5 cents stronger at -40F; Des Moines, Iowa, is 5 cents stronger at -25F; Cedar Rapids, Iowa, is steady at -25F; Sioux City is 5 cents stronger at -40F; 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 -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -55F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is steady at -95F; and Mankato, Minnesota, is steady at -38F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $300 over against offers of plus $800 over, Jan. is bid plus $1100 over against offers of plus $1800 over and J, F, M is bid plus $1000 over against offers of plus $1500 over. UP secondary freight for returns is bid plus $50 over against no offers, Dec. is bid even money against offers of plus $200 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 Wednesday was 59 cents under the March futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 73 cents under the Kansas City March futures, unchanged from Tuesday's basis. Spot premiums were lower as mill runs slowed during Thanksgiving week and mills are seeing contract applications. Ordinary protein through 11.2% is down 7 at +105; 11.4% through 12%% is steady at +112; 12.2% through 12.8 was down 10 at +125; 13% through 13.8% is steady at +145; 150 and 14% was steady at +177 Gulf bid for spot 11% protein is steady 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 Wednesday was 21 cents under the MIAX Minneapolis March futures, unchanged from Tuesday'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 up 10 to unchanged at +170B to +205N; 14.5% proteins were not quoted; 15% proteins are unchanged at +235N 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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