DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 37 cents under the March futures contract, while the DTN National Corn Index was up 7 cents at $4.08. The national average basis for soybeans was 2 cents stronger at 73 cents under the March futures, while the DTN National Soybean Index was up 18 cents at $9.89. The national average basis for hard red winter (HRW) wheat was 5 cents weaker at 70 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $4.51. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 15 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $5.56.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.08	$0.07	-$0.37	Mar	$0.004
Soybeans:	$9.89	$0.18	-$0.73	Mar	$0.019
SRW Wheat:	$4.58	$0.06	-$0.55	Mar	$0.002
HRW Wheat:	$4.51	$0.00	-$0.70	Mar	-$0.056
HRS Wheat:	$5.56	$0.00	-$0.15	Mar	-$0.005

CORN:

The national average corn basis for Friday was 37 cents under the March futures, unchanged from Wednesday's basis. PNW basis for Feb. is 8 cents weaker at +112H, while Hereford, Texas, is not bid. Jan. CIF basis is 5 cents stronger at +86H and track St. Louis is 4 cents weaker at +21H. Processors are steady with Cedar Rapids, Iowa, steady 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 +7H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is steady at -10H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -14H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -33H.

SOYBEAN:

The national average soybean basis for Friday was 73 cents under the March futures, 2 cents stronger than Wednesday's basis. PNW basis for Jan. is 10 cents weaker at +105H. Jan. CIF basis is steady at +100F and Jan. track St. Louis is at +22H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is at option the H; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is 2 cents weaker at +8F. Processors are mixed with some still moving to H. Council Bluffs, Iowa, is at -45H; Des Moines, Iowa, is steady at -30H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is steady at -50H; Decatur, Illinois, is steady at +20F; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is at -68H; NDSP Casselton, North Dakota is 5 cents stronger at -65H; Hastings, Nebraska, is steady stronger at -94H; Lincoln, Nebraska, is at +36H; 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 $200 over (Mexico opt) against offers of plus $500 over, LH Jan. is bid plus $300 over against offers of plus $600 over and Feb. is bid plus $800 over against offers of plus $1300 over. UP secondary freight for returns is not bid plus or offered, and January is bid plus $300 over against offers of plus $550 over and February is bid plus $300 over against offers of plus $850 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 55 cents under the March futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 70 cents under the Kansas City March futures, 5 cents weaker than Wednesday's basis. Spot premiums were steady to lower with ordinary protein down 10 at +90; 11% through 11.6% was steady at +100; 11.8% was steady +105; 12 through 12.2% is down 7 at +113; 12.4% through 12.8 was down 2 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 up 10 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 Friday was 15 cents under the MIAX Minneapolis March futures, 1 cent weaker than Wednesday'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 unchanged at 145N; 13.5 proteins were unchanged at +125N; 14 proteins are unchanged at +125N to +200; 14.5% proteins were unchanged at +135N; 15% proteins are down 35 to down 10 at +230 to +260 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 30 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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