DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 30 cents under the December futures contract and the DTN National Corn Index was down 4 cents at $3.81. The national average basis for soybeans was 1 cent stronger at 56 cents under the November futures contract, and the DTN National Soybean Index was down 13 cents at $9.18. The national average basis for hard red winter (HRW) wheat was unchanged at 59 cents under the December futures contract, and the DTN National Hard Red Winter Wheat Index was down 11 cents at $5.02. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 41 cents under the December futures contract, while the DTN National Hard Red Spring Wheat Index was down 9 cents at $5.55.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.81	-$0.04	-$0.30	Dec	$0.002
Soybeans:	$9.18	-$0.13	-$0.56	Nov	$0.012
SRW Wheat:	$4.92	-$0.10	-$0.67	Dec	-$0.002
HRW Wheat:	$5.02	-$0.11	-$0.59	Dec	-$0.003
HRS Wheat:	$5.55	-$0.09	-$0.41	Dec	$0.011

CORN:

The national average corn basis for Monday was 30 cents under the December futures unchanged from Friday's basis. PNW basis for last-half December is steady at +142Z, Hereford, Texas, for first-half December is steady at +135Z and track St. Louis is steady at +5Z. Processors are steady with Cedar Rapids, Iowa, steady at -30Z; Fort Dodge, Iowa, is steady at -10Z; Council Bluffs, Iowa, is steady at -25Z; Decatur, Illinois, is steady at -19Z; Mitchell, South Dakota, is steady at -50Z; Blair, Nebraska, is steady at -15Z; Hastings, Nebraska, is steady at -17Z; Lincoln, Nebraska, is steady at -30Z; Garden City, Kansas, is steady at +30Z; Columbus, Nebraska, is steady at -10Z; and Marshall, Minnesota, is steady at -5Z.

SOYBEANS:

The national average soybean basis for Monday was 56 cents under the November futures, 1 cent stronger than Friday's basis. PNW bid for first-half November is steady at +170X, and track St. Louis is steady at +30X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent weaker at -1Z; St. Paul, Minnesota, river bid is 2 cents stronger at -28X; and basis on the Illinois River at Havana, Illinois, is steady at -4X. The Mississippi River at St. Louis is minus 1.66 feet below zero gauge and the gauge in Memphis is minus 9.33 feet below zero gauge, as dredges continue to work to keep the channels open. https://www.dtnpf.com/…

Processors are mixed, with Council Bluffs, Iowa, steady at -30X; Cedar Rapids, Iowa, is steady at -25X; Sioux City is steady at -20X; Decatur, Illinois, steady at +10X; Volga, South Dakota, is steady at -60X; Spiritwood, North Dakota, is steady at -30; Hastings, Nebraska, is steady at -50X; Lincoln, Nebraska, is steady at -30X; Aberdeen, South Dakota, is steady at -55X; Mitchell, South Dakota, is steady at -85X; and Mankato, Minnesota, is 10 cents weaker at +5X. BN secondary shuttle freight for returns is bid plus $1200 over against offers of plus $1800 over, November is bid plus $1200 over against offers of plus $1800 over and December is bid plus $1100 over against offers of plus $1500 over. UP secondary freight for returns is bid plus $800 over against offers of plus $1000 over and November is bid plus $600 over against offers of plus $1200 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 67 cents under the December futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 59 cents under the Kansas City December futures, unchanged from Friday's basis. The KC spot milling cash premiums were steady to higher with few cars showing for sale. Ordinary protein steady at +75; 11% through 11.2% proteins were steady at +80; 11.4% was unchanged at +85; 11.6% was through 12.8% was steady at +100: 13% was up 10 cents at +110; 13.2% through 13.6% was steady at +118; 13.8% was steady at +123 and 14% was down 4 cents at +124. The track Gulf bid for 11% protein was steady at +105 with no protein bumps. PNW 11.5% was steady at +170, while the Texas Gulf basis for 11% was steady at +140.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 41 cents under the Minneapolis December futures 1 cent stronger than Friday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis December futures: 12% proteins were not quoted; 13% proteins were not quoted; 13.5 proteins were not quoted; 14 proteins were unchanged at +200B to +250; 14.5% proteins were not quoted; 15% proteins were down 20 to unchanged at +250 to +400, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 29 cars, which included zero train(s). Bid (B), Ask(A), Nominal(N). Minneapolis Daily Spot 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

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