DTN Daily Basis Comments
Thursday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 45 cents under the December futures contract, while the DTN National Corn Index was down 1 cent at $4.99. The national average basis for soybeans was 1 cent weaker at 48 cents under the November futures, while the DTN National Soybean Index was down 9 cents at $12.62. The national average basis for hard red winter (HRW) wheat was 9 cents weaker at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 20 cents at $7.64. The national average basis for hard red spring (HRS) wheat was steady at 55 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 6 cents at $7.27.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.99 | -$0.01 | -$0.45 | Dec | $0.014 |
| Soybeans: | $12.62 | -$0.09 | -$0.48 | Nov | -$0.014 |
| SRW Wheat: | $7.02 | -$0.08 | -$0.72 | Dec | $0.000 |
| HRW Wheat: | $7.64 | -$0.20 | -$0.70 | Dec | -$0.094 |
| HRS Wheat: | $7.27 | $0.06 | -$0.55 | Dec | $0.007 |
CORN:
The national average corn basis for Wednesday was 45 cents under the December futures, 1 cent stronger than Tuesday's basis. PNW basis for FH Sep is steady at +107Z and CIF is steady at +66Z. Track St. Louis for September is steady at +22Z. Processors for September are mixed with Cedar Rapids, Iowa, 11 cents stronger at -12Z; Fort Dodge, Iowa, is at -47Z; Council Bluffs, Iowa, is at -36Z; Des Moines, Iowa, is at -40Z; Decatur, Illinois, is steady at -5Z; MT. Vernon, Indiana is steady at -20Z; Mitchell, South Dakota, is steady at -65Z; Blair, Nebraska, is at -31Z; Hastings, Nebraska, is at -33Z; Lincoln, Nebraska, is at -45Z; Garden City, Kansas, is at option the Z; Columbus, Nebraska, is at -30Z; Marion, Ohio, is steady at option the Z; Tharaldson Ethanol Casselton, North Dakota is 5 cents stronger at -55Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is at -75Z; and Marshall, Minnesota, is steady at -53Z.
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SOYBEAN:
The national average soybean basis for Wednesday was 48 cents under the November futures, 1 cents weaker than Tuesday's basis. PNW basis for last half September is steady at +170X; CIF basis for September is 3 cents weaker at +99X and track St. Louis for September is 12 cents weaker at +10X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents weaker at +15X; St. Paul, Minnesota, is steady at -58X and basis on the Illinois River at Havana, Illinois, is 10 cents stronger at -10X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 11 at +20X, all of Sept at -15X; Des Moines, Iowa, is at -60X; Cedar Rapids, Iowa, is steady at +35X for FH Sept.; Sioux City, Iowa by Sept. 4 is +50, by Sept 11 +25 and by Sept. -20X; Decatur, Illinois, for September is at +40/+30/+25/+10X; Spiritwood, North Dakota, is at -15X by Sept. 26 and balance Sept. is at -30X; NDSP Casselton, North Dakota is at is at +5X for FH Sept. and LH Sept. is at -30X; Hastings, Nebraska, is 10 cents stronger for FH Sept. at option the X; Lincoln, Nebraska, is steady at option the X; Grand Island, Nebraska, is steady at -65X; Aberdeen, South Dakota, is steady at -40X FH Sept and -60X LH Sept.; Mitchell, South Dakota, is 10 cents stronger at -55X; Volga, South Dakota, is steady at -35X, Sidney, Ohio, is steady at +25X and Mankato, Minnesota, is steady at -5X. BN secondary shuttle freight for returns is bid plus $400 over against no offers, FH Sep is bid plus $400 over against offers of plus $600 over, LH September is bid plus $450 over against offers of plus $800 over and October is bid plus $800 over against offers of plus $1600 over. UP secondary shuttle freight for returns is bid plus $300 over against no offers, MP September is bid plus $300 over against offers of plus $600 over and O,N,D (Mexico option) is bid plus $400 over against offers of plus $900 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Wednesday was 72 cents under the December futures, unchanged from Tuesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Wednesday was 70 cents under the Kansas City December futures, 9 cents weaker than Tuesday's basis. Spot premiums are mostly higher with ordinary protein through 11.2% up 1 at +92; 11.4% protein through 12% is up 8 at +110; 12.2% protein through 12.8% protein is up 7 at +104; 13% through 13.2% proteins are up 3 at +100;13.4% protein is steady at +105; 13.6% is steady at +107 and 13.8% protein and 14% protein is steady at +108. Gulf track bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is up 5 at +145, while Texas Gulf basis for 11% protein is up 15 cents at +150.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 55 cents under the MIAX Minneapolis December 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 December MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are not quoted; 13.5% proteins are not quoted; 14% proteins are unchanged to up 20 at +120N to +140; 14.5% proteins are up 10 at +125B; 15% proteins are down 10 to down 20 at +170 to +180, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 51 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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