DTN Daily Basis Comments
Wednesday Morning 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 1 cent at $3.78. The national average basis for soybeans was 2 cents stronger at 78 cents under the November futures contract, while the DTN National Soybean Index was up 6 cents at $9.44. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 71 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 3 cents at $4.21. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 40 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: | $3.78 | -$0.01 | -$0.41 | Dec | $0.008 |
| Soybeans: | $9.44 | $0.06 | -$0.78 | Nov | $0.017 |
| SRW Wheat: | $4.39 | -$0.06 | -$0.68 | Dec | $0.003 |
| HRW Wheat: | $4.21 | -$0.03 | -$0.71 | Dec | $0.008 |
| HRS Wheat: | $5.12 | -$0.04 | -$0.40 | Dec | $0.006 |
CORN:
The national average corn basis for Tuesday was 41 cents under the December futures, 1 cent stronger than Monday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is steady at +79Z and track St. Louis is steady at option Z. Processors are steady with Cedar Rapids, Iowa, 2 cents stronger at -25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -28Z; Des Moines, Iowa is 3 cents weaker at -50Z; Decatur, Illinois, is steady 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 steady at -18Z; and Marshall, Minnesota, is steady at -37Z.
SOYBEAN:
The national average soybean basis for Tuesday was 78 cents under the November futures, 2 cents stronger than Monday's basis. PNW basis for October is 10 cents stronger at +75X. CIF basis is 8 cents stronger at +71X and track St. Louis is 6 cents weaker at +6Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent stronger at -24X; St. Paul, Minnesota, is 5 cents stronger at -65X and basis on the Illinois River at Havana, Illinois, is 7 cents stronger at -28X. The Mississippi River at Memphis is falling and is -6.43 feet below zero gauge, and barge drafts and tow sizes will remain lowered. Processors are mixed with Council Bluffs, Iowa, 12 cents stronger at -60X; Des Moines, Iowa is steady 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 15 cents stronger at -95X; Hastings, Nebraska, is steady at -79X; Lincoln, Nebraska, is steady at -50X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is 5 cents stronger at -50X. BN secondary shuttle freight for returns is bid plus $400 over against offers of plus $500 over, FH Oct. is bid plus $300 over against no offers and LH Oct. is bid plus $500 over against offers of plus $800 over. UP secondary freight for returns is bid plus $300 over against no offers, FH Oct. is bid plus $300 over against no offers and LH Oct. is bid plus $300 over against offers of plus $500 over.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Tuesday was 68 cents under the December futures, unchanged from Monday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Tuesday was 71 cents under the Kansas City December futures, 1 cent stronger than Monday'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% is steady at +94; 12.4% through 12.8% is up 2 at +96; 13% through 14% is up 2 at +117. Gulf bid for spot 11% protein was up 5 at +95Z 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 Tuesday was 40 cents under the MIAX Minneapolis December futures, 1 cent stronger 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 unchanged at +100N; 13.5 proteins were unchanged at +105N; 14 proteins unchanged at +105N to +120N; 14.5% proteins were not quoted; 15% proteins were up 20 to unchanged at +220 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 34 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
Follow her on social platform X @MaryCKenn
(c) Copyright 2025 DTN, LLC. All rights reserved.