DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 32 cents under the March futures contract, while the DTN National Corn Index was unchanged at $3.95. The national average basis for soybeans was steady at 65 cents under the March futures, while the DTN National Soybean Index was down 3 cents at $10.70. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 66 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 11 cents at $4.94. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 14 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.69.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.95	$0.00	-$0.32	Mar	$0.002
Soybeans:	$10.70	-$0.03	-$0.65	Mar	$0.003
SRW Wheat:	$5.10	-$0.05	-$0.59	Mar	-$0.012
HRW Wheat:	$4.94	-$0.11	-$0.66	Mar	$0.009
HRS Wheat:	$5.69	-$0.04	-$0.14	Mar	$0.014

CORN:

The national average corn basis for Monday was 32 cents under the March futures, unchanged from Friday's basis. PNW basis for April is 3 cents stronger at +103K, while Hereford, Texas, is not bid. FH Feb. CIF basis is 5 cents stronger at +106H and Feb. track St. Louis is 2 cents stronger at +22H. Processors are mixed with Cedar Rapids, Iowa, 7 cents stronger at -7H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is 2 cents stronger at -17H; Decatur, Illinois, is 3 cents weaker at +2H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is 5 cents stronger at -5H; Hastings, Nebraska, is steady at -40H; Lincoln, Nebraska, is steady at -35H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is 4 cents stronger at -10H; St. Paul, Minnesota is steady at -45H; and Marshall, Minnesota, is 4 cents weaker at -40H.

SOYBEAN:

The national average soybean basis for Monday was 65 cents under the March futures, unchanged from Friday's basis. PNW basis for LH March is steady at +115H. Feb. CIF basis is 2 cents stronger at +107H and Feb. track St. Louis is steady at +24H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents weaker at -10H; St. Paul, Minnesota, is steady at -62H and basis on the Illinois River at Havana, Illinois, is steady at option the March. Illinois River LaGrange Lock is still trying to catch up, while LMR has seen water levels improve. Barge freight on the Illinois River is seeing high bids but very limited offers for early March. Processors are mixed with Council Bluffs, Iowa, steady at -50H; Des Moines, Iowa, is steady at -50H; Cedar Rapids, Iowa, is 5 cents stronger at -45H; Sioux City is steady at -60H; Decatur, Illinois, is steady at +10H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is 5 cents stronger at -65H; NDSP Casselton, North Dakota is steady at -65H; Hastings, Nebraska, is steady at -76H; Lincoln, Nebraska, is steady at -45H; Aberdeen, South Dakota, is steady at -100H; Mitchell, South Dakota, is steady at -80H; and Mankato, Minnesota, is steady at -40H. BN secondary shuttle freight for returns is bid plus $200 against offers of plus $400 over, Feb. is bid plus $200 over against no offers and March is bid plus $100 over against offers of plus $300 over. UP secondary freight for returns is bid plus $200 over against no offers and February is bid plus $200 over against no offers and March is bid plus $150 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 59 cents under the March futures, 1 cent weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 66 cents under the Kansas City March futures, 1 cent stronger than Friday's basis. Spot premiums were steady to lower with ordinary protein was steady at +112; 11% through 11.2 was steady at +124; 11.4 through 11.8% was up 1 at +128; 12% through 12.2 was down 3 cents at +125; 12.4% was unchanged at +125;12.6% was down 5 at +120; 12.8% through 13% was down 2 at +118; 13.2 through 13.6% was steady at +120; 13.8% was steady at +135 and 14% was steady at +135. Gulf bid for spot 11% protein is steady at +115 with no protein bumps. PNW 11.5% is steady at +155, while Texas Gulf basis for 11% is steady at +165.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 14 cents under the MIAX Minneapolis March futures, 1 cent stronger than 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 +110N; 13.5% proteins were unchanged at +115N; 14% proteins are down 20 at +130N; 14.5% proteins were unchanged at +130N; 15% proteins are down 15 to down 100 at +160 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 9 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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