DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 21 cents under the March futures contract, and the DTN National Corn Index was down 4 cents at $4.08. The national average basis for soybeans was unchanged at 54 cents under the March futures contract, while the DTN National Soybean Index was down 10 cents at $11.29. The national average basis for hard red winter (HRW) wheat was steady at 54 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $5.47. The national average basis for hard red spring (HRS) wheat was unchanged at 21 cents under the March futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $6.63.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.08	-$0.04	-$0.21	Mar	$0.001
Soybeans:	$11.29	-$0.10	-$0.54	Mar	$0.000
SRW Wheat:	$5.40	$0.07	-$0.56	Mar	-$0.012
HRW Wheat:	$5.47	$0.00	-$0.54	Mar	-$0.008
HRS Wheat:	$6.63	$0.00	-$0.21	Mar	-$0.004

CORN:

The national average corn basis for Friday was 21 cents under the March futures, unchanged from Thursday's basis. PNW basis for first-half February is steady at +145H, while last-half February is steady at +145H. Hereford, Texas, is steady at +135H for first-half February. CIF NOLA for February is steady at +54H and track St. Louis for February is steady at +13H. Processors are mixed, with Cedar Rapids, Iowa, steady at option the March; Fort Dodge, Iowa, is steady at +18H; Council Bluffs, Iowa, is steady at +10H; Decatur, Illinois, is steady at +10H; Mitchell, South Dakota, is steady at -38H; Blair, Nebraska, is steady at +15H; Hastings, Nebraska, is 3 cents stronger at -15H; Lincoln, Nebraska, is steady at -15H; Garden City, Kansas, is steady at +10H; Columbus, Nebraska, is steady at +20H; 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. There are no posted bids on the PNW for soybeans. CIF NOLA basis for February is steady at +70H; track St. Louis for February is steady at +25H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +19H and in St. Paul, Minnesota, river opening bid is +30H. Basis on the Illinois River at Havana, Illinois, is 5 cents stronger at option the March. The Lower Mississippi River is in good shape right now but will need steady rains to keep levels from falling. Processor bids are mixed with Council Bluffs, Iowa, steady at -20H; Cedar Rapids, Iowa, is steady. at -15H; Sioux City is steady at -30H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -50H; Spiritwood, North Dakota, is -65H; Hastings, Nebraska, is 5 cents stronger at -75H; Lincoln, Nebraska, is steady at -20H; Aberdeen, South Dakota, is steady at -90H; Mitchell, South Dakota, is 5 cents weaker at -80H; and Mankato, Minnesota, is steady at -15H. BN secondary shuttle freight for returns is not bid or offered, while February is bid plus $1000 over against no offers. UP secondary freight for returns is bid plus $300 over against no offers, while February is bid plus $400 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 56 cents under the March futures, 1 cent weaker than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 54 cents under the Kansas City March futures, unchanged from Thursday's basis. The KC spot milling cash premiums were steady to higher with few cars showing up. Ordinary protein was up 5 cents at +135; 11% protein through 11.8% up 10 cents at +140; 12% through 12.2% was unchanged at +150; 12.4% through 12.6% was steady at +175; 12.8% was steady at +180; 13% through 14% protein was steady at +185. Offers for 11% protein at the Texas Gulf are steady at +155 and PNW 11.5% is steady at +155, while the track Gulf basis bid for February is steady at +125 and no bump for higher protein.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 21 cents under the Minneapolis March futures, unchanged from Thursday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis March futures: 12% proteins were not quoted; 13% proteins were not quoted; 13.5% proteins were down 15 cents at +180; 14% proteins were down 40 cents at +170* to +175; 14.5% proteins were not quoted; 15% proteins were down 35 cents to down 40 cents at +205 to +240 and 16 proteins were not quoted. Wheat receipts on the exchange floor were 81 cars, which included two 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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