DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 39 cents under the December futures contract, while the DTN National Corn Index was up 4 cents at $3.84. The national average basis for soybeans was 1 cent stronger at 72 cents under the November futures contract, while the DTN National Soybean Index was up 5 cents at $9.63. The national average basis for hard red winter (HRW) wheat was steady at 69 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 3 cents at $4.19. The national average basis for hard red spring (HRS) wheat was 2 cents stronger at 34 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 5 cents at $5.14.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.84	$0.04	-$0.39	Dec	$0.008
Soybeans:	$9.63	$0.05	-$0.72	Nov	$0.010
SRW Wheat:	$4.39	$0.03	-$0.65	Dec	$0.000
HRW Wheat:	$4.19	$0.03	-$0.69	Dec	-$0.005
HRS Wheat:	$5.14	$0.05	-$0.34	Dec	$0.016

CORN:

The national average corn basis for Wednesday was 39 cents under the December futures, 1 cent stronger than Tuesday's basis. PNW basis is steady for October at +110Z and steady for November at +115Z, while Hereford, Texas, is 5 cents stronger at +95Z. CIF basis is 1 cents stronger at +82Z and track St. Louis is 4 cents stronger at +21Z. Processors are mixed with Cedar Rapids, Iowa, steady at -24Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is steady at -22Z; Des Moines, Iowa, is steady at -20Z; Decatur, Illinois, is steady at -5Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is 3 cents weaker at -25Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -42Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -25Z; St. Paul, Minnesota is 5 cents stronger at -40Z and Marshall, Minnesota, is steady at -48Z.

SOYBEAN:

The national average soybean basis for Wednesday was 72 cents under the November futures, 1 cent stronger than Tuesday's basis. PNW basis for Oct. is steady at +80X. CIF basis is steady at +78X and track St. Louis is 1 cent stronger at +15Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at -5X; St. Paul, Minnesota, is 10 cents stronger at -45X and basis on the Illinois River at Havana, Illinois, is steady at -22X. The Mississippi River at Memphis is at -8.05 feet below zero gauge and dredges are starting to appear in the Lower and Upper Mississippi River, which will stop or slow barge traffic. Processors are mixed with Council Bluffs, Iowa, 5 cents stronger at -55X; Des Moines, Iowa, is steady at -20X; Cedar Rapids, Iowa, is 10 cents stronger at -15X; 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 steady -90X; Casselton, North Dakota is steady at +65X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is 15 cents stronger at -60X; Aberdeen, South Dakota, is steady at -95X; Mitchell, South Dakota, is steady at -105X; and Mankato, Minnesota, is steady at -15X. BN secondary shuttle freight for returns is bid $700 against offers of $1000, Oct. is bid plus $700 over against offers of plus $1000 over and FH November is bid plus $600 over against no offers. UP secondary freight for returns is bid plus $500 over against no offers, Oct. is bid plus $500 over against no offers and Nov. is bid plus $100 over against offers of plus $400 over.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 69 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums were steady to higher as mills are still paying higher for spot needs. Ordinary protein is up 5 at +105; 11.0% through 11.2% was up 5 at +110; 11.4% was steady at +115; 11.6% through 12.4% is up 12 at +132; 12.6 through 12.8% is steady at +120; 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 up 10 at +155Z, while Texas Gulf basis for 11% is down 5 at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 34 cents under the MIAX Minneapolis December futures, 2 cents stronger than Tuesday'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 15 at +140; 14.5% proteins were unchanged at +150N; 15% proteins were up 80 to up 15 at +280 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 18 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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