DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 24 cents under the March futures contract, while the DTN National Corn Index was up 1 cent at $4.22. The national average basis for soybeans was steady at 54 cents under the March futures contract, while the DTN National Soybean Index was unchanged at $11.60. The national average basis for hard red winter (HRW) wheat was steady at 55 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 3 cents at $5.53. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 27 cents under the March futures contract, while the DTN National Hard Red Spring Wheat Index was up 7 cents at $6.69.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.22	$0.01	-$0.24	Mar	-$0.001
Soybeans:	$11.60	$0.00	-$0.54	Mar	$0.005
SRW Wheat:	$5.34	$0.08	-$0.60	Mar	$0.002
HRW Wheat:	$5.53	$0.03	-$0.55	Mar	$0.004
HRS Wheat:	$6.69	$0.07	-$0.27	Mar	-$0.002

CORN:

The national average corn basis for Friday was 24 cents under the March futures, unchanged from Thursday's basis. PNW basis for January steady at +130H, while Hereford, Texas, for January is steady at +120H. CIF NOLA for January is steady at +62H and track St. Louis for January is 2 cents weaker at +23H. Processors are mixed, with Cedar Rapids, Iowa, steady at +5H; Fort Dodge, Iowa, is steady at +15H; Council Bluffs, Iowa, is steady at +15H; Decatur, Illinois, is steady at +7H; Mitchell, South Dakota, is steady at -47H; Blair, Nebraska, is 5 cents stronger at +20H; Hastings, Nebraska, is steady at -18H; Lincoln, Nebraska, is steady at -20H; Garden City, Kansas, is steady at +10H; Columbus, Nebraska, is steady at +25H; and Marshall, Minnesota, is steady at -12H.

SOYBEANS:

The national average soybean basis for Friday was 54 cents under the March, unchanged from Thursday's basis. PNW for January is 5 cents stronger at +145H, while CIF NOLA basis for January is steady at +72H, and track St. Louis for January is steady at +32H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +23H and in St. Paul, Minnesota, there are no bids since the river is closed for the winter. Basis on the Illinois River at Havana, Illinois, is 2 cents stronger at +8H. The Mississippi River at St. Louis is at -1.94 feet and is expected to fluctuate this week. ACBL noted on their website, "Currently heavy ice is present in Saint Louis harbor with approximately 70% coverage creating delays in and out of the harbor and increased delays to and from dockages. There is also ice formation below Saint Louis extending past St. Genevieve creating delays in transit times in the area. Right now, there is also an ice gorge between Cairo and the I-57 bridge which has seized traffic NBD (northbound) from Cairo to Saint Louis and SBD (southbound) to STL (St. Louis) from Saint Cairo." Processor bids are steady with Council Bluffs, Iowa, steady at option the March; Cedar Rapids, Iowa, is steady at -15H; Sioux City is steady at -30H; Decatur, Illinois, is steady at option the March; Volga, South Dakota, is steady at -40H; Spiritwood, North Dakota, is steady at -80H for January; Hastings, Nebraska, is steady at -80H; Lincoln, Nebraska, is steady at -30H; Aberdeen, South Dakota, is steady at -90H; Mitchell, South Dakota, is steady at -75H; and Mankato, Minnesota, is steady at -15H. BN secondary shuttle freight for returns is bid plus $700 over against no offers, while January is bid plus $600 over tariff against no offers and February is bid plus $500 over tariff against no offers. UP secondary for freight for returns is bid plus $200 over against no offers, while January is bid +200 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 60 cents under the March futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 55 cents under the Kansas City March futures, unchanged from Thursday's basis. The KC spot milling cash premiums were steady with no cars showing up Friday. Ordinary protein was steady at +110, 11% was through 11.8 was unchanged at +125; 12% to 12.2% was unchanged at +145; 12.4% was unchanged at +145; 12.6% through 12.8% was unchanged at +165; 13% through 14% protein was steady at +170. Offers for 11% protein at the Texas Gulf were steady at +150 and PNW 11.5% was steady at +145, while the track Gulf basis bid is steady at +130 for January 11% protein and +135 for Feb. and no bump for higher protein. Logistics and even some quality issues problems caused by weather have seen higher spot trades reported for high proteins.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 27 cents under the Minneapolis March futures, 1 cent stronger than Thursday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis March futures: 12% proteins were unchanged at +45; 13% proteins were unchanged at +85N; 13.5% proteins were not quoted; 14% proteins were unchanged to up 10 cents at +200 to +210; 14.5% proteins were not quoted; 15% proteins were up 10 cents to up 5 cents at +310 to +315. Wheat receipts on the exchange floor were 15 cars, which included zero train(s)*. Bid (B), Ask(A), Nominal(N). MGEX Daily Grain Prices are Delivered Chicago/Beyond freight: Spot No. 1 Milling Northern/Dark Northern Spring Wheat.

Mary Kennedy can be reached at mary.kennedy@dtn.com.

Follow her on X, formerly known as Twitter, @MaryCKenn.

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