DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 42 cents under the December futures contract, while the DTN National Corn Index was down 2 cents at $3.78. The national average basis for soybeans was steady at 78 cents under the November futures contract, while the DTN National Soybean Index was down 3 cents at $9.53. 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 7 cents at $4.33. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 55 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.23.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.78	-$0.02	-$0.42	Dec	-$0.002
Soybeans:	$9.53	-$0.03	-$0.78	Nov	-$0.002
SRW Wheat:	$4.47	-$0.03	-$0.73	Dec	$0.002
HRW Wheat:	$4.33	-$0.07	-$0.77	Dec	-$0.003
HRS Wheat:	$5.19	-$0.04	-$0.55	Dec	-$0.009

CORN:

The national average corn basis for Tuesday was 42 cents under the December futures, unchanged from Monday's basis. PNW basis is steady for September at +110Z and Hereford, Texas, is for October is steady at +100Z. CIF basis is 8 cents stronger at +75Z and track St. Louis is steady at -6Z. Processors are mixed with Cedar Rapids, Iowa, 4 cents weaker at-25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -27Z; Decatur, Illinois, is steady at -15Z; Mitchell, South Dakota, is at -58Z; Blair, Nebraska, is 4 cents weaker at -22Z; Hastings, Nebraska, is 17 cents stronger at -20Z; Lincoln, Nebraska, is at -38Z; Garden City, Kansas, is steady at -20Z; Columbus, Nebraska, is 7 cents weaker at -12Z; and Marshall, Minnesota, is steady at -34Z.

SOYBEAN:

The national average soybean basis for Tuesday was 78 cents under the November futures, unchanged from Monday's basis. PNW basis for October is 3 cents weaker at +52X. CIF basis is steady at +52X and track St. Louis is 5 cents weaker at -35. 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 -4.04 feet below zero gauge and USCG has cut drafts and tow sizes on the Lower Mississippi. Processors are mixed with Council Bluffs, Iowa, steady at -40X; Cedar Rapids, Iowa, is steady at -50X; Sioux City is not quoted until Oct. at -45Z; Decatur, Illinois, is 10 cents weaker at -25; Volga, South Dakota, is steady at -55X; Spiritwood, North Dakota, is 10 cents weaker at -95X; Hastings, Nebraska, is steady at -73X; Lincoln, Nebraska, is steady at -40X; Aberdeen, South Dakota, is steady at -85X; Mitchell, South Dakota, is $1 weaker at -111X; and Mankato, Minnesota, is 10 cents stronger at -40X. BN secondary shuttle freight for returns is bid even money against no offers, FH Sep. is bid even money against no offers, LH Sep. is bid even money against offers of plus $250 over and FH Oct. is bid plus $100 over and offered at plus $500 over. UP secondary freight for returns is bid even money against no offers, FH Sep. is bid minus $50 under against no offers, LH Sep. is bid minus $50 under against no offers and Oct. is bid plus $100 over against offers of plus $400 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 73 cents under the December futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was at 77 cents under the Kansas City December futures, unchanged from Monday'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 steady at +87; 13% through 13.8% is steady 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 +120Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was at 55 cents under the MIAX Minneapolis December futures, 1 cent weaker than Monday'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 at +30B* to +70A*; 14 proteins were unchanged at +60N to +85N; 14.5% proteins were not quoted; 15% proteins were down 15 to up 20 at +155 to +200B and 16% proteins were not quoted. Wheat receipts on the exchange floor were 38 cars, which includes one 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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