DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 38 cents under the March futures contract, while the DTN National Corn Index was unchanged at $4.02. The national average basis for soybeans was 1 cent stronger at 78 cents under the March futures, while the DTN National Soybean Index was down 14 cents at $9.69. The national average basis for hard red winter (HRW) wheat was steady at 71 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 7 cents at $4.44. The national average basis for hard red spring (HRS) wheat was steady at 18 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.56.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.02	$0.00	-$0.38	Mar	$0.001
Soybeans:	$9.69	-$0.14	-$0.78	Mar	$0.007
SRW Wheat:	$4.53	-$0.01	-$0.54	Mar	$0.026
HRW Wheat:	$4.44	-$0.07	-$0.71	Mar	$0.007
HRS Wheat:	$5.56	-$0.04	-$0.18	Mar	$0.005

CORN:

The national average corn basis for Wednesday was 38 cents under the March futures, unchanged from Tuesday's basis. PNW basis for Feb. is steady at +120H, while Hereford, Texas, is not bid. Jan. CIF basis is steady at +81H and track St. Louis is steady at +25H. Processors are mixed with Cedar Rapids, Iowa, 2 cents weaker at -15H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is steady at +10H; Mitchell, South Dakota, is 7 cents stronger at -59H; Blair, Nebraska, is steady at -7H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is 5 cents stronger at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is 2 cents weaker at -12H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -35H.

SOYBEAN:

The national average soybean basis for Wednesday was 78 cents under the March futures, 1 sent stronger than Tuesday's basis. PNW basis for Jan. is steady at +125F. Jan. CIF basis is 1 cent weaker at +100F and Jan. track St. Louis is 10 cents stronger at +40F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 8 cents stronger at +15F; St. Paul, Minnesota, is 1 cent weaker at -63F and basis on the Illinois River at Havana, Illinois, is steady at +10F. Processors are mixed with some still moving to H. Council Bluffs, Iowa, is at -45H; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is steady at -35F; Sioux City is at -40H; Decatur, Illinois, is steady at +20F; Volga, South Dakota, is 10 cents stronger at -80H; Spiritwood, North Dakota, is steady at -70F; NDSP Casselton, North Dakota is at -75H; Hastings, Nebraska, is 1 cent stronger at -89F; Lincoln, Nebraska, is steady at +40F; Aberdeen, South Dakota, is at -95H; Mitchell, South Dakota, is 10 cents stronger at -79F; and Mankato, Minnesota, is at -38H. BN secondary shuttle freight for returns is not bid or offered, FH Jan. is bid plus $400 over against offers of plus $600 over, LH Jan. is bid plus $600 over against offers of plus $800 over and Feb. is bid plus $1000 over against offers of plus $1500 over. UP secondary freight for returns is not bid plus or offered, and January is bid plus $300 over against offers of plus $500 over and February is bid plus $200 over against offers of plus $1000 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 54 cents under the March futures, 2 cents stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 71 cents under the Kansas City March futures, unchanged from Tuesday's basis. Spot premiums were steady as mills are still in holiday mode. Ordinary protein was steady at +100; 11% through 11.8% was steady at +105; 12 through 12.2% is steady 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 steady at +137 and 14% was steady 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.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 18 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 unchanged at +130N; 13% proteins were at 145; 13.5 proteins were down 20 at +120; 14 proteins are down 25 to up 50 at +125 to +200; 14.5% proteins were at +135; 15% proteins are up 15 to unchanged at +265N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 63 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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