DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 41 cents under the December futures contract, while the DTN National Corn Index was up 1 cent at $4.87. The national average basis for soybeans was unchanged at 56 cents under the November futures, while the DTN National Soybean Index was up 2 at $12.63. The national average basis for hard red winter (HRW) wheat was steady at 67 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 5 cents at $6.95. The national average basis for hard red spring (HRS) wheat was steady at 59 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 7 cents at $6.54.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.87	$0.01	-$0.41	Dec	$0.003
Soybeans:	$12.63	$0.02	-$0.56	Nov	$0.004
SRW Wheat:	$6.32	-$0.04	-$0.71	Dec	-$0.002
HRW Wheat:	$6.95	-$0.05	-$0.67	Dec	-$0.001
HRS Wheat:	$6.54	-$0.07	-$0.59	Dec	-$0.002

CORN:

The national average corn basis for Friday was 41 cents under the December futures, unchanged from Thursday's basis. PNW basis is not bid until Dec. and is steady at +130Z and CIF is 6 cents weaker at +67Z. Track St. Louis for September is steady at -30. Processors for September are mixed with Cedar Rapids, Iowa, 5 cents stronger at option the X; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 5 cents stronger at -20Z; Des Moines, Iowa, is steady at +40Z; Decatur, Illinois, is steady at -15Z; MT. Vernon, Indiana is 10 cents weaker at -20Z; Mitchell, South Dakota, is 4 cents stronger steady at -56Z; Blair, Nebraska, is 5 cents stronger at -10Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is steady at -35Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is 5 cents stronger at -15Z; Marion, Ohio, is 5 cents stronger at +35Z; Tharaldson Ethanol Casselton, North Dakota is steady at -55Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is steady at -75Z; and Marshall, Minnesota, is steady at -53Z.

SOYBEAN:

The national average soybean basis for Friday was 56 cents under the November futures, unchanged from Thursday's basis. PNW basis for last period (LP) September is steady at +160X; CIF basis for LH September is 8 cents stronger at +95X and track St. Louis for September is steady at -17X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -option the X; St. Paul, Minnesota, is steady at -75X and basis on the Illinois River at Havana, Illinois, is steady at -30X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 28 is 15 cents stronger at +100X; Des Moines, Iowa, is steady at +100X by Sept. 30; Cedar Rapids, Iowa, went to new crop basis at -30X; Sioux City, Iowa is steady at +100X by Sept. 30; Decatur, Illinois went to NC bid at -20X; Spiritwood, North Dakota, is steady by Sept.30 at -15X; NDSP Casselton, North Dakota for LH Sept. is 5 cents stronger at -10X; Hastings, Nebraska, is steady for Sept. is 5 cents weaker at -30X; Lincoln, Nebraska by Oct. 2 is steady +100X and balance Oct. is at -15X; Grand Island, Nebraska, is steady at -65X; Freemont, Nebraska is steady at +100X by Oct. 2; Norfolk Crush, Nebraska is steady at +100 cents for spot; Aberdeen, South Dakota, is 20 cents stronger at +30X; Mitchell, South Dakota, is 15 cents stronger at +15X; Volga, South Dakota, is 15 cents stronger at option the X; Sidney, Ohio, is 40 cents weaker at option the X and Mankato, Minnesota, is steady at +50X for September. BN secondary shuttle freight for returns is not bid or offered, Sept. 25 to Oct.5 is not bid against offers of plus $800 over, Oct. is bid plus $1000 over offers of plus $1200 over and O,N,D is bid plus $400 over against offers of plus $800 over. UP secondary shuttle freight for returns is bid plus $600 over against no offers, LH September is bid plus $600 over against no offers and Oct. is bid plus $300 over against offers of plus $800 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 71 cents under the December futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 67 cents under the Kansas City December futures, unchanged from Thursday's basis. Spot premiums are mixed with ordinary protein steady at +92; 11% steady at +107; 11.2% through 11.4% is steady at +95; 11.6 protein through 11.8 is down 5 at +95; 12% protein through 12.4% is steady at +100; 12.6% through 12.8% protein is up 2 at +105; 13% protein is steady at +105; 13.2% proteins is steady at +115; 13.4% protein is steady at +115; 13.6% is steady at +115 and 13.8% protein and 14% protein is steady at +115. Gulf track bid for spot 11% protein is steady at +85 with no protein bumps. PNW 11.5% is steady at +125, while Texas Gulf basis for 11% protein is steady at +160.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 59 cents under the MIAX Minneapolis December unchanged from Thursday'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 were not at +145; 13% proteins are not quoted; 13.5% proteins are unchanged at 120; 14% proteins are down 5 to unchanged at +140 to +160; 14.5% proteins are unchanged at +140N; 15% proteins are unchanged to up 20 at +120 to +180, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 56 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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