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 up 10 cents at $3.88. The national average basis for soybeans was steay at 79 cents under the November futures contract, while the DTN National Soybean Index was up 13 cents at $9.67. 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 up 4 cents at $4.37. The national average basis for hard red spring (HRS) wheat was steady at 55 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up unchanged at $5.17.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.88	$0.10	-$0.42	Dec	$0.002
Soybeans:	$9.67	$0.13	-$0.79	Nov	-$0.002
SRW Wheat:	$4.51	$0.02	-$0.73	Dec	$0.002
HRW Wheat:	$4.37	$0.04	-$0.77	Dec	-$0.003
HRS Wheat:	$5.17	$0.00	-$0.55	Dec	$0.000

CORN:

The national average corn basis for Friday was 42 cents under the December futures, unchanged from Thursday's basis. PNW basis is steady for September at +113Z and Hereford, Texas, is for October is steady at +100Z. CIF basis is 2 cents stronger at +82Z and track St. Louis is 2 cents stronger at +3Z. Processors are mixed with Cedar Rapids, Iowa, steady at-25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 2 cents weaker at -29Z; Decatur, Illinois, is steady at -15Z; Mitchell, South Dakota, is at -58Z; Blair, Nebraska, is 4 cents stronger at -20Z; Hastings, Nebraska, is steady at -25Z; Lincoln, Nebraska, is at -38Z; Garden City, Kansas, is steady at -20Z; Columbus, Nebraska, is steady at -12Z; and Marshall, Minnesota, is steady at -30Z.

SOYBEAN:

The national average soybean basis for Friday was 79 cents under the November futures, unchanged from Thursday's basis. PNW basis for October is steady at +52X. CIF basis is 3 cents stronger at +55X and track St. Louis is steady 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 -4.79 feet below zero gauge and USCG has initiated low water safety protocols on the Lower Mississippi. The Ohio River at Cairo is falling as well, reaching low stage today and if it keeps up, we will have transit issues. Processors are mixed with Council Bluffs, Iowa, 20 cents weaker at -40X; Cedar Rapids, Iowa, is steady at -50X; Sioux City is 45 cents weaker for last half Sept. at -45Z; Decatur, Illinois, is steady at -25; Volga, South Dakota, is steady at -55X; Spiritwood, North Dakota, is steady at -105X; Hastings, Nebraska, is steady at -73X; Lincoln, Nebraska, is steady at -40X; Aberdeen, South Dakota, is steady at -100X; Mitchell, South Dakota, is $1 weaker at -116; and Mankato, Minnesota, is steady at -40X. BN secondary shuttle freight for returns is not bid or offers, Sept. is bid plus $50 over against no offers, FH Oct. is bid plus $300 over against offers of plus $500 over and Oct. is bid plus $450 over against offers of plus $650 over. UP secondary freight for returns is bid plus $100 over against no offers, Sept. is bid plus $50 over against no offers and Oct. is bid plus $200 over against offers of plus $400 over.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 77 cents under the Kansas City December futures, unchanged from Thursday's basis. Spot premiums were steady to higher with ordinary protein unchanged at +75; 11.0% unchanged at +85; 11.2% through 12.4% down 4 at +85; 12.6% is down 5 at +85; 12.8% is steady at +90; 13% through 13.4% is down 4 at +116; 13.6% through 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 Friday was 55 cents under the MIAX Minneapolis December futures, unchanged from 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 at +70 to +80; 14 proteins were down 40 to down 25 at +80 to + 95; 14.5% proteins were not quoted; 15% proteins were unchanged to down 55 at +160 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 19 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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