DTN Daily Basis Comments
Tuesday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent weaker at 42 cents under the December futures contract, while the DTN National Corn Index was up 2 cents at $3.80. The national average basis for soybeans was unchanged at 80 cents under the November futures contract, while the DTN National Soybean Index was unchanged at $9.38. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 72 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 2 cents at $4.24. The national average basis for hard red spring (HRS) wheat was steady at 41 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.16.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $3.80 | $0.02 | -$0.42 | Dec | -$0.011 |
| Soybeans: | $9.38 | $0.00 | -$0.80 | Nov | $0.000 |
| SRW Wheat: | $4.45 | -$0.02 | -$0.68 | Dec | $0.002 |
| HRW Wheat: | $4.24 | -$0.02 | -$0.72 | Dec | -$0.003 |
| HRS Wheat: | $5.16 | -$0.04 | -$0.41 | Dec | -$0.003 |
CORN:
The national average corn basis for Monday was 42 cents under the December futures, 1 cent weaker than Friday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is 2 cents weaker at +79Z and track St. Louis is steady at option Z. Processors are steady with Cedar Rapids, Iowa, 5 cents weaker at -27Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 2 cents stronger at -28Z; Des Moines, Iowa is steady at -47Z; Decatur, Illinois, is 13 cents weaker at -13Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is steady at -22Z; Hastings, Nebraska, is steady at -25Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is 3 cents weaker at -18Z; and Marshall, Minnesota, is steady at -37Z.
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SOYBEAN:
The national average soybean basis for Monday was 80 cents under the November futures, unchanged from Friday's basis. PNW basis for Oct. is 15 cents stronger at +65X. CIF basis is 3 cents stronger at +63X and track St. Louis is 3 cents weaker at -23. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents stronger at -25X; St. Paul, Minnesota, is 10 cents stronger at -70X and basis on the Illinois River at Havana, Illinois, is steady at -35X. The Mississippi River at Memphis is falling and is -6.07 feet below zero gauge, and barge drafts and tow sizes will remain lowered. Processors are mixed with Council Bluffs, Iowa, is 7 cents weaker at -72X; Des Moines, Iowa is 10 cents weaker at -50X; Cedar Rapids, Iowa, is steady at -50X; Sioux City is steady at -55X; Decatur, Illinois, is steady at -5X; Volga, South Dakota, is steady at -95X; Spiritwood, North Dakota, is 10 cents stronger at -110X; Hastings, Nebraska, is steady at -79X; Lincoln, Nebraska, is 10 cents weaker at -50X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is steady at -55X. BN secondary shuttle freight for returns is not bid or offered, FH Oct. is bid even money against no and LH Oct. is bid plus $400 over against no offers. UP secondary freight for returns is not bid or offered, FH Oct. is bid plus $200 over against no offers and LH Oct. is bid plus $200 over against offers of plus $600 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Monday was 68 cents under the December futures, unchanged from Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday was 72 cents under the Kansas City December futures, 1 cent weaker than Friday's basis. Spot premiums were steady to higher with ordinary protein unchanged at +75; 11.0% was steady at +81; 11.2% is up 6 at +87; 12% is down 7 at +87; 12.2% through 12.6% is steady at +94; 13% through 14% is up 2 at +117. Gulf bid for spot 11% protein was steady at +90Z with no protein bumps. September PNW 11.5% is steady at +145Z, while Texas Gulf basis for 11% is steady at +115Z.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Monday was 41 cents under the MIAX Minneapolis December futures, unchanged from Friday'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 unchanged at +100N; 13.5 proteins are at +105; 14 proteins were down 5 to unchanged at +105 to +120N; 14.5% proteins were unchanged at +110N; 15% proteins were unchanged at +190N to +220N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 9 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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