DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 40 cents under the March futures contract, while the DTN National Corn Index was unchanged at $4.08. The national average basis for soybeans was steady at 67 cents under the January futures, while the DTN National Soybean Index was down 2 cents at $9.85. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 72 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 7 cents at $4.56. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 19 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $5.62.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.08	$0.00	-$0.40	Mar	-$0.003
Soybeans:	$9.85	-$0.02	-$0.67	Jan	-$0.001
SRW Wheat:	$4.58	$0.03	-$0.59	Mar	$0.017
HRW Wheat:	$4.56	$0.07	-$0.72	Mar	$0.005
HRS Wheat:	$5.62	$0.00	-$0.19	Mar	-$0.002

CORN:

The national average corn basis for Tuesday was 40 cents under the March futures, 1 cent weaker than Monday's basis. PNW basis for FH Jan. is steady at +110H and LH Jan. is steady at +120H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +76H and track St. Louis is steady at +11H. Processors are mixed with Cedar Rapids, Iowa, 2 cents weaker at -13H; Fort Dodge, Iowa, is 1 cent weaker at -31H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is steady at option the H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is 2 cents weaker at -12H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is 3 cents stronger at -47H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -10H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -35H.

SOYBEAN:

The national average soybean basis for Tuesday was 67 cents under the January futures, unchanged from Monday's basis. PNW basis for Jan. is steady at +125F. Dec. CIF basis is steady at +95F and Dec. track St. Louis is 11 cents stronger at +26F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +6F; St. Paul, Minnesota, is steady at -67F and basis on the Illinois River at Havana, Illinois, is 11 cents stronger at +7F. Processors are mixed with Council Bluffs, Iowa, steady at -35F; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is 10 cents weaker at -35F; Sioux City is 15 cents weaker at -55F; Decatur, Illinois, is steady at +12F; Volga, South Dakota, is steady at -90F; Spiritwood, North Dakota, is 5 cents weaker at -75F; NDSP Casselton, North Dakota is steady at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -40F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is steady at -95F; and Mankato, Minnesota, is steady at -30F. BN secondary shuttle freight for returns is not bid or offered, LH December is bid plus $300 over against no offers, FH Jan. is bid plus $800 over against offers of plus $1000 over and LH Jan. is bid plus $800 over against offers of plus $1800 over. UP secondary freight for returns is not bid plus or offered, and January is bid plus $400 over against offers of plus $900 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 59 cents under the March futures, 2 cents stronger than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 72 cents under the Kansas City March futures, 1 cent stronger than Monday's basis. Spot premiums were mostly steady as mills settle into holiday mode. Ordinary protein was steady at +100; 11% through 11.8% was down 5 at +105; 12 through 12.2% is up 3 at +113; 12.4% through 12.8 was steady at +118; 13% through 13.2% is steady at +120; 13.4% through 13.6% was steady at +130; 13.8% was down 8 at +137 and 14% was down 40 at +147. Gulf bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is steady at +140, while Texas Gulf basis for 11% is unchanged at +135. Saudi Arabia was reported to have purchased 500,000 mt of durum for Feb-March and likely Canadian and maybe some U.S.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 19 cents under the MIAX Minneapolis March futures, 1 cent weaker than Monday'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 at +150; 13.5 proteins were up 35 at +170; 14 proteins are down 40 to down 10 at +160 to +190; 14.5% proteins were up 25 to up 15 at +175; 15% proteins are down 10 to up 5 at +250 to +265 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 65 cars, which includes one 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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