DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 40 cents under the December futures contract, while the DTN National Corn Index was up 1 cent at $3.83. The national average basis for soybeans was steady at 74 cents under the November futures contract, while the DTN National Soybean Index was up 13 cents at $9.58. The national average basis for hard red winter (HRW) wheat was steady at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 1 cent at $4.20. The national average basis for hard red spring (HRS) wheat was steady at 38 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.10.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.83	$0.01	-$0.40	Dec	$0.005
Soybeans:	$9.58	$0.13	-$0.74	Nov	$0.004
SRW Wheat:	$4.39	$0.01	-$0.65	Dec	$0.001
HRW Wheat:	$4.20	-$0.01	-$0.70	Dec	$0.003
HRS Wheat:	$5.10	-$0.01	-$0.38	Dec	-$0.006

CORN:

The national average corn basis for Monday was 40 cents under the December futures, unchanged from Friday's basis. PNW basis is steady for October at +110Z and 5 cents stronger for November at +115Z, while Hereford, Texas, is steady at +95Z. CIF basis is steady at +82Z and track St. Louis is 3 cents stronger at +14Z. Processors are mixed with Cedar Rapids, Iowa, steady at -24Z; Fort Dodge, Iowa, is 2 cents weaker at -40Z; Council Bluffs, Iowa, is steady at -22Z; Des Moines, Iowa, is steady at -20Z; Decatur, Illinois, is steady at -13Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is steady at -22Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is 7 cents weaker at -25Z; and Marshall, Minnesota, is 3 cents weaker at -50Z.

SOYBEAN:

The national average soybean basis for Monday was 74 cents under the November futures, unchanged from Friday's basis. PNW basis for Oct. is steady at +80X. CIF basis is 3 cents stronger at +78X and track St. Louis is 6 cents stronger at +15Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at -10X; St. Paul, Minnesota, is steady at -55X and basis on the Illinois River at Havana, Illinois, is 1 cent stronger at -22X. The Mississippi River at Memphis is at -8.32 feet below zero gauge and dredges are starting to appear below which will stop or slow barge traffic. Here is a link to my story about the USACE building a sill near Myrtle Grove to stop the spread of saltwater due to low river levels: https://www.dtnpf.com/…. Processors are mixed with Council Bluffs, Iowa, steady at -60X; Des Moines, Iowa, is steady at -20X; Cedar Rapids, Iowa, is steady at -40X; Sioux City is steady at -35X; Decatur, Illinois, is steady at option the X; Volga, South Dakota, is steady at -90X; Spiritwood, North Dakota, is 5 cents weaker -90X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is steady at -75X; Aberdeen, South Dakota, is steady at -115X; Mitchell, South Dakota, is 6 cents stronger at -105X; and Mankato, Minnesota, is steady at -20X.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 65 cents under the December futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 70 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums were steady to higher as mills still looking for spot needs. Ordinary protein is steady at +100; 11.0% through 11.2% was steady at +105; 11.4% through 11.8% is steady at +115; 12% is steady through 12.2% is steady at +115; 12.4% is steady at +109; 12.6 through 12.8% is steady at +105; 13% through 14% is steady at +120. Gulf bid for spot 11% protein was up 5 at +100Z with no protein bumps. PNW 11.5% is steady at +150Z, while Texas Gulf basis for 11% is steady at +135Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 38 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 not quoted; 13.5 proteins were not quoted; 14 proteins were down 5 to up 15 at +140 to +160; 14.5% proteins were unchanged at +150N; 15% proteins were down 50 to down 5 at +230 to +275 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 24 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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