DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 41 cents under the December futures contract, while the DTN National Corn Index was down 2 cents at $3.77. The national average basis for soybeans was steady at 77 cents under the November futures contract, while the DTN National Soybean Index was down 6 cents at $9.50. The national average basis for hard red winter (HRW) wheat was steady at 77 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 1 cent at $4.28. The national average basis for hard red spring (HRS) wheat was unchanged at 54 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.12.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.77	-$0.02	-$0.41	Dec	$0.001
Soybeans:	$9.50	-$0.06	-$0.77	Nov	$0.001
SRW Wheat:	$4.47	$0.00	-$0.72	Dec	$0.003
HRW Wheat:	$4.28	-$0.01	-$0.77	Dec	-$0.001
HRS Wheat:	$5.12	-$0.04	-$0.54	Dec	$0.004

CORN:

The national average corn basis for Friday was 41 cents under the December futures, 1 cent stronger than Thursday's basis. PNW basis is steady for September at +110Z and Hereford, Texas, is for October is steady at +100Z. CIF basis is 1 cent weaker at +67Z and track St. Louis is steady at -10Z. Processors are mixed with Cedar Rapids, Iowa, steady at-21Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 2 cents weaker at -27Z; Decatur, Illinois, is steady at -15Z; Mitchell, South Dakota, is at -58Z; Blair, Nebraska, is 6 cents stronger at -18Z; Hastings, Nebraska, is at 37Z; Lincoln, Nebraska, is at -38Z; Garden City, Kansas, is steady at -20Z; Columbus, Nebraska, is steady at -5Z; and Marshall, Minnesota, is 2 cents weaker at -32Z.

SOYBEAN:

The national average soybean basis for Friday was 77 cents under the November futures, unchanged from Thursday's basis. PNW basis for October is 3 cents weaker at +57X. CIF basis is steady at +52X and track St. Louis is 3 cents weaker at -30. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -35X; St. Paul, Minnesota, is steady at -90X and basis on the Illinois River at Havana, Illinois, is steady at -45X. The Mississippi River at Memphis is at -0.71 feet below zero gauge and drafts have been cut on the Lower Mississippi. Processors are mixed with Council Bluffs, Iowa, steady at -40X; Cedar Rapids, Iowa, is steady at -50X; Sioux City is steady at -25X; Decatur, Illinois, is steady at -15; Volga, South Dakota, is steady at -55X; Spiritwood, North Dakota, is steady at -85X; Hastings, Nebraska, is steady at -73X; Lincoln, Nebraska, is steady at -40X; Aberdeen, South Dakota, is steady at -85X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is steady at -60X. BN secondary shuttle freight for returns is not bid or offered and FH Sep. is bid minus $200 under against offers of even money, LH Sep. is bid minus $200 under against offers of minus $50 under and FH Oct. is bid even money and offered at plus $500 over. UP secondary freight for returns is not bid or offered, FH Sep. is not bid against offers of minus $100, MP Sep. is bid even money against minus $100 under and LH Sep. is bid (Mexico option) minus $200 under against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 72 cents under the December futures, 1 cent stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was at 77 cents under the Kansas City December futures, unchanged from Thursday's basis. Spot premiums were steady with ordinary protein through 11.2% unchanged at +75; 11.4% through 11.8% steady at +87; 12 through 12.4% is steady at +85; 12.6% through 12.8% is up 2 at +87; 13% through 13.6% is up 33 at +115;13.8% is up 9 at +115 and 14% is steady at +120. Gulf bid for spot 11% protein was steady at +85Z with no protein bumps. September PNW 11.5% is steady at +140Z, while Texas Gulf basis for 11% is steady at +135Z. Friday's U.S. Wheat harvest report noted "As harvesting of the final fields for the 2025 HRW crop concludes, planting activities for the 2026 crop are now underway. Recent rainfall across many areas of the HRW production region has provided favorable conditions for seeding next year's crop. The current grade for the 2024-25 crop is a U.S. No. 2 HRW and average 12.1 protein.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was at 54 cents under the MIAX Minneapolis December futures, Thursday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows basis the December MIAX spring wheat futures: 12% proteins was not quoted; 13% proteins are not quoted; 13.5 proteins were not quoted; 14 proteins were up 5 to down 10 at +80; 14.5% proteins were down at +80N to +85N; 15% proteins were down 10 at +170 to down 15 at +180 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 18 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

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

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