DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 3 cents weaker at 30 cents under the March futures contract while the DTN National Corn Index was up 12 cents at $4.40. The national average basis for soybeans was 2 cents weaker at 59 cents under the March futures contract, while the DTN National Soybean Index was up 24 cents at $9.66. The national average basis for hard red winter (HRW) wheat was steady at 59 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 1 cent at $4.92. The national average basis for hard red spring (HRS) wheat was unchanged at 18 cents under the March futures contract, and the DTN National Hard Red Spring Wheat Index was up 1 cent at $5.66.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.40	$0.12	-$0.30	Mar	-$0.027
Soybeans:	$9.66	$0.24	-$0.59	Mar	-$0.018
SRW Wheat:	$4.75	-$0.03	-$0.55	Mar	$0.002
HRW Wheat:	$4.92	$0.01	-$0.59	Mar	-$0.001
HRS Wheat:	$5.66	$0.01	-$0.18	Mar	$0.001

CORN:

The national average corn basis for Friday was 30 cents under the March futures 3 cents weaker than Thursday's basis. PNW basis for last-half January is 5 cents weaker at +105H and Hereford, Texas, was not posted. CIF basis is steady at +67H and track St. Louis is steady at +16H. Processors are mixed with Cedar Rapids, Iowa, is 3 cents weaker at -20H; Fort Dodge, Iowa, is 5 cents weaker at -25H; Council Bluffs, Iowa, is 3 cents weaker at -10H; Decatur, Illinois, is 2 cents weaker at option the H; Mitchell, South Dakota, is steady at -50H; Blair, Nebraska, is 5 cents weaker at -14H; Hastings, Nebraska, is 5 cents weaker at -40H; Lincoln, Nebraska, is steady at -25H; Garden City, Kansas, is steady at +20H; Columbus, Nebraska, is 2 cents weaker at -10H; and Marshall, Minnesota, is 3 cents weaker at -30H.

SOYBEANS:

The national average soybean basis for Friday was 59 cents under the March futures, 2 cents weaker than Thursday's basis. PNW not showing a bid, CIF basis is 5 cents weaker at +84F and track St. Louis is steady at +28H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +4H; St. Paul, Minnesota, Mississippi River is closed for winter and basis on the Illinois River at Havana, Illinois, is 3 cents weaker at option +3H. Processors are mixed with Council Bluffs, Iowa, 2 cents weaker at -30H; Cedar Rapids, Iowa, is 5 cents weaker at -25H; Sioux City is 5 cents weaker at -25H; Decatur, Illinois, is steady at option the H; Volga, South Dakota, is 10 cents weaker at -57H; Spiritwood, North Dakota, is 5 cents weaker at -45H; Hastings, Nebraska, is steady at -77H; Lincoln, Nebraska, is at -35H; Aberdeen, South Dakota, is steady at -65H; Mitchell, South Dakota, is 10 cents weaker at -95H; and Mankato, Minnesota, is 10 cents weaker at -30H. BN secondary shuttle freight for returns is not bid against no offers, mid period January is bid minus $200 under against no offers, last-half January is bid minus $200 under against offers of plus $100 over and February is bid plus $100 over against offers of $350 over. UP secondary freight for returns is not bid against no offers, January is bid minus $300 under against offers of minus $200 under and February is bid minus $400 under against offers of $200 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 55 cents under the March futures, 1 cent stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 59 cents under the Kansas City March futures, unchanged from Thursday's basis. The KC spot milling cash premiums were steady no cars showing sold. Traders note that millers are covered in the first quarter. Ordinary protein was steady at +90; 11% through 11.2% was steady at +112; 11.4% through 12.8% was steady at +115; 12% through 12.2% was steady at +110; 12.4% was steady at +112; 12.6% through 12.8% was steady at +110; 13% through 13.6% was steady at +115; and 13.8% through 14% was steady at +140. Track Gulf bid for 11% protein was steady at +105 with no protein bumps. PNW 11.5% was steady at +130, while the Texas Gulf basis for 11% was up 5 cents at +130.The NASS report Friday noted that U.S. winter wheat seedings were up 2%. Winter wheat seeded area for 2025 is expected to total 34.1 million acres, up 2 percent from 2024. Approximate class acreage breakdowns are: Hard Red Winter, 24.0 million; Soft Red Winter, 6.44 million; and White Winter, 3.64 million.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 18 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 at +75N; 13.5 proteins were not quoted; 14 proteins were down 10 to unchanged at +160 to +200; 14.5% proteins were down 20 to down 65 at +165; 15% proteins were down 105 to down 5 at +250 to +350, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 35 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

Follow her on social platform X @MaryCKenn

(c) Copyright 2025 DTN, LLC. All rights reserved.