DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 39 cents under the December futures contract, while the DTN National Corn Index was up 5 cents at $3.89. The national average basis for soybeans was 1 cent stronger at 71 cents under the November futures contract, while the DTN National Soybean Index was up 11 cents at $9.74. 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 12 cents at $4.31. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 33 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 11 cents at $5.25.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.89	$0.05	-$0.39	Dec	$0.001
Soybeans:	$9.74	$0.11	-$0.71	Nov	$0.006
SRW Wheat:	$4.49	$0.10	-$0.64	Dec	$0.005
HRW Wheat:	$4.31	$0.12	-$0.69	Dec	$0.004
HRS Wheat:	$5.25	$0.11	-$0.33	Dec	$0.007

CORN:

The national average corn basis for Thursday was 39 cents under the December futures, unchanged from Wednesday's basis. PNW basis is steady for October at +110Z and steady for November at +115Z, while Hereford, Texas, is 5 cents stronger at +100Z. CIF basis is steady at +82Z and track St. Louis is steady at +21Z. Processors are mixed with Cedar Rapids, Iowa, steady at -24Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is 3 cents weaker at -25Z; 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 5 cents weaker at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -25Z; St. Paul, Minnesota river basis is 10 cents stronger at -30Z and Marshall, Minnesota, is steady at -48Z.

SOYBEAN:

The national average soybean basis for Thursday was 71 cents under the November futures, 1 cent stronger than Wednesday's basis. PNW basis for Oct. is steady at +80X. CIF basis is 11 cents stronger at +89X and track St. Louis is 10 cents stronger at +25Z. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -5X; St. Paul, Minnesota, is 10 cents stronger at -45X and basis on the Illinois River at Havana, Illinois, is 14 cents stronger at -8X. 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, steady at -55X; Des Moines, Iowa, is steady at -20X; Cedar Rapids, Iowa, is steady at -15X; Sioux City is steady at -35X; Decatur, Illinois, is steady at option the X; Volga, South Dakota, is 5 cents stronger at -85X; Spiritwood, North Dakota, is steady -90X; Casselton, North Dakota is 5 cents weaker at +70X; Hastings, Nebraska, is steady at -75X; Lincoln, Nebraska, is steady at -60X; Aberdeen, South Dakota, is steady at -95X; Mitchell, South Dakota, is 4 cents stronger at -101X; and Mankato, Minnesota, is 5 cents stronger at -10X. BN secondary shuttle freight for returns is not bid or offered, Oct. is bid plus $700 over against offers of plus $1000 over and November is bid plus $600 over against offers of plus $900 over. UP secondary freight for returns is not bid or offered, 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 Thursday was 64 cents under the December futures, 1 cent stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 69 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were steady to higher as mills are still paying higher for spot needs. Ordinary protein is steady at +105; 11.0% through 11.2% was steady at +110; 11.4% was up 17 at +132; 11.6% was up 12 at +132 11.8% through 12.4% is steady at +132; 12.6 through 13.8% is steady at +120; 14% is up 30 at +150. 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 steady at +130Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 33 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 to up 10 at +140 to +150; 14.5% proteins were not quoted; 15% proteins were down 70 to up 5 at +210 to +285 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 26 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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