DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 34 cents under the March futures contract, while the DTN National Corn Index was down 2 cents at $3.94. The national average basis for soybeans was steady at 66 cents under the March futures, while the DTN National Soybean Index was down 6 cents at $9.96. The national average basis for hard red winter (HRW) wheat was steady at 69 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 10 cents at $4.61. The national average basis for hard red spring (HRS) wheat was steady at 16 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 5 cents at $5.54.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.94	-$0.02	-$0.34	Mar	$0.004
Soybeans:	$9.96	-$0.06	-$0.66	Mar	$0.001
SRW Wheat:	$4.68	-$0.07	-$0.54	Mar	$0.002
HRW Wheat:	$4.61	-$0.10	-$0.69	Mar	$0.006
HRS Wheat:	$5.54	-$0.05	-$0.16	Mar	$0.002

CORN:

The national average corn basis for Monday was 34 cents under the March futures, 1 cent stronger than Friday's basis. PNW basis for Feb. is steady at +120H, while Hereford, Texas, is not bid. Jan. CIF basis is 11 cents stronger at +99H and track St. Louis is 5 cents weaker at +23H. Processors are mixed with Cedar Rapids, Iowa, steady at -12H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is 2 cents stronger at -8H; Des Moines, Iowa, is steady at -17H; Decatur, Illinois, is steady at +3H; Mitchell, South Dakota, is steady at -61H; Blair, Nebraska, is steady at -7H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -12H; St. Paul, Minnesota is steady at -55H; and Marshall, Minnesota, is steady at -37H.

SOYBEAN:

The national average soybean basis for Monday was 66 cents under the March futures, unchanged from Friday's basis. PNW basis for Jan. is steady at +115H. Jan. CIF basis is 7 cents stronger at +115H and Jan. track St. Louis is steady at +30H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +7H; St. Paul, Minnesota, is steady at -75H and basis on the Illinois River at Havana, Illinois, is steady at option the H. Ice has become worse on the Illinois River and Ohio River. Low water is seen on the Mississippi River at Memphis and St. Louis which will cause drafts to be lowered. Processors are mixed with Council Bluffs, Iowa, steady at -40H; Des Moines, Iowa, is steady at -35H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is 5 cents weaker at -35H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is steady at -60H; NDSP Casselton, North Dakota is 5 cents weaker at -60H; Hastings, Nebraska, is steady at -91H; Lincoln, Nebraska, is steady at -35H; Aberdeen, South Dakota, is steady at -90H; Mitchell, South Dakota, is steady at -80H; and Mankato, Minnesota, steady at -30H. BN secondary shuttle freight for returns is bid plus $500 over against no offers, LH Jan. is bid plus $500 over against no offers and Feb. is bid plus $1000 over against offers of plus $1400 over. UP secondary freight for returns is bid plus $300 over against offers of plus $600 over, LH January is bid plus $300 over against no offers and February is bid plus $300 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 54 cents under the March futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 69 cents under the Kansas City March futures, unchanged from Friday's basis. Spot premiums were mostly steady with ordinary protein steady at +114; 11% through 11.2% was steady at +119; 11.4% was steady at +120; 11.6% was steady at +125; 11.8% was steady at +125; 12% was down 5 at +120; 12.2% through 12.4% was steady at +125; 12.6% was 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 +110 with no protein bumps. PNW 11.5% is steady at +155, while Texas Gulf basis for 11% is steady at +180.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 16 cents under the MIAX Minneapolis March futures, unchanged from Friday'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 were unchanged at +95N; 13.5% proteins were unchanged at +125N; 14% proteins are unchanged at +140N to +190N; 14.5% proteins were unchanged at +170N; 15% proteins are up 30 to unchanged at +210 to +250 and 16% proteins were unchanged at +185N. Wheat receipts on the exchange floor were 7 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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