DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 44 cents under the December futures contract, while the DTN National Corn Index was down 3 cents at $4.96. The national average basis for soybeans was 1 cent weaker at 49 cents under the November futures, while the DTN National Soybean Index was up 5 cents at $12.67. The national average basis for hard red winter (HRW) wheat was steady at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 18 cents at $7.46. 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 down 17 cents at $7.10.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.96	-$0.03	-$0.44	Dec	$0.000
Soybeans:	$12.67	$0.05	-$0.49	Nov	-$0.014
SRW Wheat:	$6.83	-$0.19	-$0.71	Dec	$0.004
HRW Wheat:	$7.46	-$0.18	-$0.70	Dec	$0.005
HRS Wheat:	$7.10	-$0.17	-$0.55	Dec	-$0.008

CORN:

The national average corn basis for Thursday was 44 cents under the December futures, 1 cent stronger than Wednesday'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, steady at -12Z; Fort Dodge, Iowa, is 2 cents stronger at -45Z; Council Bluffs, Iowa, is at -36Z; Des Moines, Iowa, is steady at -40Z; Decatur, Illinois, is 3 cents weaker at -8Z; MT. Vernon, Indiana is 2 cents weaker at -22Z; Mitchell, South Dakota, is steady at -65Z; Blair, Nebraska, is steady at -31Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is steady at -45Z; Garden City, Kansas, is steady at option the Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is steady at option the Z; Tharaldson Ethanol Casselton, North Dakota is steady at -55Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is at -75Z; and Marshall, Minnesota, is steady at -53Z.

SOYBEAN:

The national average soybean basis for Thursday was 49 cents under the November futures, 1 cent weaker than Wednesday's basis. PNW basis for last half September is steady at +170X; CIF basis for September is 1 cent stronger at +100X and track St. Louis for September is steady at +10X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents weaker at +10X; St. Paul, Minnesota, is steady at -58X and basis on the Illinois River at Havana, Illinois, is 10 cents weaker at -20X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 11 at +20X, all of Sept at -15X; Des Moines, Iowa, is 35 cents weaker at +25X; Cedar Rapids, Iowa, is steady -15X for Sept. and is at -40X for Oct.; Sioux City, Iowa by Sept. 4 is +50, by Sept 11 +25 and by Sept. -20X; Decatur, Illinois, for early September is 25 cents weaker at +15X; Spiritwood, North Dakota, is at -15X by Sept. 26 and balance Sept. is at -30X; NDSP Casselton, North Dakota is at is at 5 cents weaker at option the X for FH Sept. and LH Sept. is at -30X; Hastings, Nebraska, is 25 cents weaker for FH Sept. at -25X; 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 20 cents stronger at -25X; 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 Thursday was 71 cents under the December futures, 1 cent stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 70 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums are mostly higher with ordinary protein through 11.2% up 1 at +92; 11.4% protein is down 5 at +105; 12% is steady at +110; 12.2% protein through 12.8% protein is steady at +104; 13% through 13.2% proteins are steady 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 down 10 at +135, while Texas Gulf basis for 11% protein is down 10 cents at +140. Saudi Arabia announced a tender for 535,000 metric tons of wheat for Nov/Dec shipment.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 55 cents under the MIAX Minneapolis December futures, unchanged from Wednesday'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 at +120N to +140N; 14.5% proteins are down 5 at +120; 15% proteins are down 15 to up 10 at +155 to +190, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 17 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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