DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 41 cents under the December futures contract, while the DTN National Corn Index was down 4 cents at $3.78. The national average basis for soybeans was 2 cents stronger at 76 cents under the November futures contract, while the DTN National Soybean Index was down 6 cents at $9.46. The national average basis for hard red winter (HRW) wheat was steady at 71 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 3 cents at $4.19. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 39 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 2 cents at $5.18.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.78	-$0.04	-$0.41	Dec	$0.002
Soybeans:	$9.46	-$0.06	-$0.76	Nov	$0.012
SRW Wheat:	$4.39	-$0.01	-$0.67	Dec	$0.001
HRW Wheat:	$4.19	-$0.03	-$0.71	Dec	$0.004
HRS Wheat:	$5.18	$0.02	-$0.39	Dec	$0.007

CORN:

The national average corn basis for Thursday was 41 cents under the December futures, unchanged from Wednesday'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 +18Z. Processors are steady with Cedar Rapids, Iowa, steady at -25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -25Z; Des Moines, Iowa is steady 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 -38Z; 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 Thursday was 76 cents under the November futures, 2 cents stronger than Wednesday's basis. PNW basis for Oct. is steady at +80X. CIF basis is 5 cents stronger at +80X and track St. Louis is 2 cents stronger at +15Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -15X; St. Paul, Minnesota, is steady at -65X and basis on the Illinois River at Havana, Illinois, is 1 cent stronger at -19X. The Mississippi River at Memphis is at -5.47 below zero gauge and expected to rise a few inches over the weekend and then fall again. Barge drafts and tow sizes have seen a reprieve for now until and if the river falls again next week. Processors are mixed with Council Bluffs, Iowa, steady at -60X; Des Moines, Iowa is 15 cents stronger at -35X; Cedar Rapids, Iowa, is 10 cents stronger at -40X; Sioux City is steady at -55X; Decatur, Illinois, is steady at -5X; Volga, South Dakota, is steady at -95X; Spiritwood, North Dakota, is 5 cents stronger at -90X; Hastings, Nebraska, is steady at -79X; Lincoln, Nebraska, is 25 cents weaker at -50X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is steady at -110X; and Mankato, Minnesota, is 10 cents stronger at -40X. BN secondary shuttle freight for returns is bid plus $400 over against offers of plus $800 over and LH Oct. is bid plus $500 over against offers of plus $1000 over. UP secondary freight for returns is bid plus $300 over against no offers and LH Oct. is bid plus $300 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 67 cents under the December futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 71 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were steady to higher with ordinary protein up 10 at +80; 11.0% was steady at +81; 11.2% is up 6 at +87; 12% is up 11 at +98; 12.2% is steady at +98; 12.4% through 12.8% is steady at +100; 13% through 14% is steady at +117. Gulf bid for spot 11% protein was steady at +95Z with no protein bumps. PNW 11.5% is steady at +150Z, while Texas Gulf basis for 11% is steady at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 39 cents under the MIAX Minneapolis December futures, 1 cent stronger than Wednesday'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 unchanged at +100N to +120N; 14.5% proteins were not quoted; 15% proteins were unchanged at +175N to +225N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 0 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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