DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 33 cents under the March futures contract while the DTN National Corn Index was down 1 cent at $4.61. The national average basis for soybeans was steady at 64 cents under the March futures contract, while the DTN National Soybean Index was down 18 cents at $9.93. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 60 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 4 cents at $5.32. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 22 cents under the March futures contract, and the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.97.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.61	-$0.01	-$0.33	Mar	$0.002
Soybeans:	$9.93	-$0.18	-$0.64	Mar	$0.000
SRW Wheat:	$5.18	-$0.04	-$0.54	Mar	$0.012
HRW Wheat:	$5.32	-$0.04	-$0.60	Mar	-$0.005
HRS Wheat:	$5.97	-$0.04	-$0.22	Mar	-$0.009

CORN:

The national average corn basis for Wednesday was 33 cents under the March futures, unchanged from Tuesday's basis. PNW basis for February is $10 stronger at +110H and Hereford, Texas, is steady for March at +100K. Feb. CIF basis is up 4 cents at +73H and track St. Louis is steady at +9H. Processors are mixed with Cedar Rapids, Iowa, 1 cent weaker at -16H; Fort Dodge, Iowa, is steady at -29H; Council Bluffs, Iowa, is steady at -18H; Decatur, Illinois, is steady at -4H; Mitchell, South Dakota, is steady at -60H; Blair, Nebraska, is steady at -18H; Hastings, Nebraska, is steady at -40H; Lincoln, Nebraska, is steady at -35H; Garden City, Kansas, is steady at +15H; Columbus, Nebraska, is steady at -20H; and Marshall, Minnesota, is steady at -35H.

SOYBEANS:

The national average soybean basis for Wednesday was 64 cents under the March futures, unchanged from Tuesday's basis. PNW is steady at +110H, CIF basis is steady at +63H and track St. Louis is 5 cents weaker at +10H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 3 cents stronger at -22H; St. Paul, Minnesota, Mississippi River is closed for winter and basis on the Illinois River at Havana, Illinois, is 1 cent weaker at -22H. Processors are steady with Council Bluffs, Iowa, steady at -45H; Cedar Rapids, Iowa, is 2 cents weaker at -37H; Sioux City is steady at -45H; Decatur, Illinois, is steady at -15H; Volga, South Dakota, is steady at -75H; Spiritwood, North Dakota, is steady at -60H; Hastings, Nebraska, is steady at -80H; Lincoln, Nebraska, is steady at -40H; Aberdeen, South Dakota, is 5 cents stronger at -65H; Mitchell, South Dakota, is steady at -95H; and Mankato, Minnesota, is steady at -35H. BN secondary shuttle freight for returns is bid plus $250 over against offers of plus $500 over and February is bid plus $250 over against offers of plus $600 over. UP secondary freight for returns is not bid or offered and February is bid minus $300 under against offers of minus $200 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 54 cents under the March futures, 1 cent stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 60 cents under the Kansas City March futures, 1 cent weaker Tuesday's basis. Premiums were steady to weaker midweek with ordinary protein steady at +80; 11% protein was steady at +102; 11.2% was through 11.4% was steady at +102; 11.6 through 11.8% was steady at +110; 12% through 12.4% was steady at +102; 12.6% was down 6 at +104%; 12.8% was steady at +105; 13% through 13.2% was down 5 at +110; 13.4% was down 15 at +105; 13.6% was steady at +120; 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 +125, while the Texas Gulf basis for 11% was steady at +125.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 22 cents under the Minneapolis March futures, 1 cent weaker than Tuesday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis March futures: 12% proteins were unchanged at +100N; 13% proteins were unchanged at +145N; 13.5 proteins were unchanged at +150N; 14 proteins were down 25 to unchanged at +155 to +210; 14.5% proteins were unchanged to up 15 at +180 to +195; 15% proteins were down 20 to unchanged at +280A to +310, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 51 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.

Come see DTN at the National Farm Machinery Show in Louisville, Kentucky, Feb. 12-15. Our 2025 Global Commodity Market and Weather Outlook presentation, featuring Lead Analyst Rhett Montgomery and Ag Meteorologist John Baranick is scheduled for 2:30-3:30 p.m. CST Wednesday, Feb. 12; 8:30-10:00 a.m. CST Thursday, Feb. 13; 10:00-11:00 a.m. CST Friday, Feb. 14.

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

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