DTN Daily Basis Comments
Tuesday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 40 cents under the December futures contract, while the DTN National Corn Index was down 5 cents at $4.83. The national average basis for soybeans was 1 cent stronger at 55 cents under the November futures, while the DTN National Soybean Index was down 30 cents at $12.33. 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 17 cents at $6.78. 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 12 cents at $6.43.
DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.83 | -$0.05 | -$0.40 | Dec | $0.006 |
| Soybeans: | $12.33 | -$0.30 | -$0.55 | Nov | $0.008 |
| SRW Wheat: | $6.18 | -$0.15 | -$0.71 | Dec | $0.000 |
| HRW Wheat: | $6.78 | -$0.17 | -$0.67 | Dec | -$0.004 |
| HRS Wheat: | $6.43 | -$0.12 | -$0.59 | Dec | $0.001 |
CORN:
The national average corn basis for Monday was 40 cents under the December futures, 1 cent stronger than Friday'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, 1 cent weaker at -1X; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 5 cents stronger at -20Z; Des Moines, Iowa, is 5 cents stronger at +35Z; Decatur, Illinois, is steady at -15Z; MT. Vernon, Indiana is 10 cents weaker at -20Z; Mitchell, South Dakota, is steady at -56Z; Blair, Nebraska, is 10 cents stronger at option the Z; Hastings, Nebraska, is 3 cents stronger at -30Z; Lincoln, Nebraska, is steady at -35Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is steady 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 5 cents stronger at -70Z; and Marshall, Minnesota, is steady at -53Z.
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SOYBEAN:
The national average soybean basis for Monday was 55 cents under the November futures, 1 cent stronger than Friday's basis. PNW basis for last period (LP) September is steady at +160X; CIF basis for LH September is steady 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 50 cents stronger at +50X; St. Paul, Minnesota, is 8 cents stronger at -68X and basis on the Illinois River at Havana, Illinois, is 5 cents stronger at -25X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 30 is steady at +100X; Des Moines, Iowa, is steady at +100X by Sept. 30; Cedar Rapids, Iowa, +70X by Sept. 30; Sioux City, Iowa is steady at +100X by Sept. 30; Iowa Falls, Iowa is 25 cents stronger at +125X by Sept. 30; Decatur, Illinois is steady at -20X; Spiritwood, North Dakota, is 5 cents stronger at -10X; NDSP Casselton, North Dakota for LH Sept. is steady 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 +100X for spot; Aberdeen, South Dakota, is 20 cents stronger at +30X; Mitchell, South Dakota, is steady at +15X; Volga, South Dakota, is steady at option the X; Sidney, Ohio, is 15 cents stronger at +15X and Mankato, Minnesota, is steady at +50X for September. BN secondary shuttle freight for returns is bid minus $400 under against offers of even money, FH Oct. is not bid against offers of plus $600 over and LH Oct. is bid plus $500 over against offers of plus $1000 over. UP secondary shuttle freight for returns is bid minus $400 over against no offers, FH Oct. is not bid against offers of plus $200 over and Oct. is not bid against offers of plus $700 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Monday was 71 cents under the December futures, unchanged from Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday was 67 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums are mixed with ordinary protein through 11.4% is steady at +90; 11.6 through 12.2% is steady at +95; 12.4% protein is steady at +100; 12.6% through 13% protein is steady at +105; 13.2% protein through 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 Monday was 59 cents under the MIAX Minneapolis December 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 December MIAX spring wheat futures: 12% proteins were unchanged at +145N; 13% proteins are not quoted; 13.5% proteins are up 20 at 140; 14% proteins are up 20 to unchanged +160; 14.5% proteins are unchanged at +140N; 15% proteins are unchanged to up 30 to unchanged at +150 to +180, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 48 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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