DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 33 cents under the December futures contract, while the DTN National Corn Index was down 1 cent at $4.15. The national average basis for soybeans was 1 cent stronger at 59 cents under the January futures, while the DTN National Soybean Index was up 3 cents at $11.71. The national average basis for hard red winter (HRW) wheat was steady at 63 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 5 cents at $5.77. The national average basis for hard red spring (HRS) wheat was steady at 32 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 7 cents at $6.03.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.15	-$0.01	-$0.33	Dec	$0.004
Soybeans:	$11.71	$0.03	-$0.59	Jan	$0.002
SRW Wheat:	$5.37	$0.07	-$0.62	Dec	$0.007
HRW Wheat:	$5.77	$0.05	-$0.63	Dec	$0.000
HRS Wheat:	$6.03	$0.07	-$0.32	Dec	$0.002

CORN:

The national average corn basis for Wednesday was 33 cents under the December futures, unchanged from Tuesday's basis. PNW basis is 5 cents stronger for FH Dec. at +115Z and CIF is steady at +94Z. Track St. Louis is 2 cent stronger at +27Z. Processors are mixed with Cedar Rapids, Iowa, is 3 cents stronger at -2Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -15Z by Nov. 15; Des Moines, Iowa, is steady at -35Z; Clinton, Iowa, is 3 cents stronger at option the Z by Nov. 15; Decatur, Illinois, is steady at +15Z; MT. Vernon, Indiana, is steady at +15 Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady at -17Z; Hastings, Nebraska (ethanol plant), is steady at -10Z; Lincoln, Nebraska, is steady at -40Z; Fremont, Nebraska, is 10 cents stronger at -40Z; Grand Island, Nebraska, is 4 cents stronger at -21Z; Siouxland Ethanol, Jackson Nebraska, is steady at -34Z; Garden City, Kansas, is steady at +10Z for OC and -20Z for NC; Columbus, Nebraska, is 2 cents stronger at -8Z; Marion, Ohio, is steady at +13Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is steady at -50Z; Casselton, North Dakota, is steady at -65; St. Paul, Minnesota, is steady at -50Z; and Marshall, Minnesota, is steady at -45Z.

SOYBEAN:

The national average soybean basis for Wednesday was 59 cents under the November futures, 1 cent stronger than Tuesday's basis. PNW basis for Dec. is at +150F; CIF basis is steady at +102F and track St. Louis is 2 cents stronger at +36F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 12 cents stronger at +8; St. Paul, Minnesota, is steady at -50X and basis on the Illinois River at Havana, Illinois, is steady at +5F. Processors are mixed with Council Bluffs, Iowa, steady at -40F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is steady at -20F; Sioux City, Iowa, is steady at -15F; Iowa Falls, Iowa, is at -20F; Decatur, Illinois, is steady at +8F by Nov. 15; Spiritwood, North Dakota, is steady at -30F; NDSP Casselton, North Dakota, is steady at -30F; Hastings, Nebraska, is at -50F; Lincoln, Nebraska, is steady at -8F; Grand Island, Nebraska, is steady at -100F; Freemont, Nebraska, is steady at -10F; Norfolk Crush, Nebraska, is steady at -30F; Aberdeen, South Dakota, is steady at -45F; Mitchell, South Dakota, is steady at -30X; Volga, South Dakota, is steady at -50F; Sidney, Ohio, is steady at -10F; Mt. Vernon, Indiana, is steady at +20F and Mankato, Minnesota, is steady at -10F. BN secondary shuttle freight for returns is bid minus $500 under against no offers, MP Nov. is bid minus $500 under against offers of -200, and Dec. is bid minus $400 under against offers of minus $150 over. UP secondary shuttle freight for returns is not bid against offers of minus $300 under, Nov. is not bid against offers against offers of minus $300, and Dec. is not bid against offers of minus $150.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 62 cents under the December futures, 1 cent stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 63 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums were steady, with ordinary protein up 5 at +110; 11% protein through 11.4% is steady at +130; 11.6% protein through 11.8% is steady at +140; 12% through 12.2% protein is down 2 at +133; 12.4% protein through 12.8% is steady at +127; 13% protein is steady at +140; 13.2 through 13.8% protein is down 5 at +140 and 14% protein is unchanged at +140. Gulf track bid for spot 11% protein is steady at +110 with no protein bumps. PNW 11.5% is steady at +130, while Texas Gulf basis for 11% protein is steady at +140. Algeria bought 600,000 to 700,000 metric tons of milling wheat Wednesday.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 32 cents under the MIAX Minneapolis December, 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 were not quoted; 13% proteins are not quoted; 13.5% proteins are not quoted; 14% proteins are down 15 to unchanged at +165 to +210; 14.5% proteins are unchanged at +185N; 15% proteins down 5 to unchanged at +230 to +250 and 16% proteins are at +210. Wheat receipts on the exchange floor were 40 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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