DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 38 cents under the December futures contract, while the DTN National Corn Index was down 7 cents at $3.90. The national average basis for soybeans was 1 cent weaker at 77 cents under the January futures contract, while the DTN National Soybean Index was down 27 cents at $10.31. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 18 cents at $4.54. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 22 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 1 cent at $5.35.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.90	-$0.07	-$0.38	Dec	-$0.004
Soybeans:	$10.31	-$0.27	-$0.77	Jan	-$0.003
SRW Wheat:	$4.72	-$0.19	-$0.64	Dec	$0.004
HRW Wheat:	$4.54	-$0.18	-$0.68	Dec	-$0.003
HRS Wheat:	$5.35	$0.01	-$0.22	Dec	$0.002

CORN:

The national average corn basis for Thursday was 38 cents under the December futures, unchanged from Wednesday's basis. PNW basis is not bid until Dec. at +115, while Hereford, Texas, is steady at +100Z. CIF basis is 3 cents weaker at +82Z and track St. Louis is 4 cents weaker at +21Z. Processors are mixed with Cedar Rapids, Iowa, steady at -26Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is steady at -22Z; Des Moines, Iowa, is 3 cents stronger at -25Z; Decatur, Illinois, is steady at -5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is steady at -27Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady at -30Z; St. Paul, Minnesota river basis is steady at -40Z and Marshall, Minnesota, is steady at -35Z.

SOYBEAN:

The national average soybean basis for Thursday was 77 cents under the January futures, 1 cent weaker than Wednesday's basis. PNW basis for November is 10 cents weaker at +90F, while LH Dec. is 10 cents weaker at +110F. CIF basis for November is 3 cents weaker at +72F and track St. Louis is 12 cents weaker at +8F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +5F; St. Paul, Minnesota, is at -68F and basis on the Illinois River at Havana, Illinois, is 7 cents weaker at -12F. Processors are mixed with Council Bluffs, Iowa, is steady at -50F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is 10 cents weaker at -25X; Sioux City is steady at -40F; Decatur, Illinois, is at +6F; Volga, South Dakota, is at -70F; Spiritwood, North Dakota, is at -85F; NDSP Casselton, North Dakota is steady at -79F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is at -45F; Aberdeen, South Dakota, is steady at -85F; Mitchell, South Dakota, is at -85F; and Mankato, Minnesota, is 5 cents weaker at -35F. BN secondary shuttle freight for returns is bid plus $600 over against no offers, FH Nov is bid plus $600 over against no offers and LH November is bid plus $500 over against offers of plus $800 over. UP secondary freight for returns is bid plus $100 over against no offers, FH Nov. is bid even money against no offers and LH Nov. is bid even money against offers of plus $250 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 64 cents under the December futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 68 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were for low protein were higher today as mills continue their buying spree. Ordinary protein is up 10 at +140; 11.0% through 11.2% was up 10 at +150; 11.4% through 11.6% is steady at +150; 11.8% through 12.6 is steady at +165; 12.8 through 13.8% is steady at +160 and 14% is steady at +160. Gulf bid for spot 11% protein is steady at +125Z with no protein bumps. PNW 11.5% is steady at +160Z, while Texas Gulf basis for 11% is steady at +155Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 22 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 were not quoted; 13% proteins are not quoted; 13.5 proteins were unchanged at +165; 14 proteins were unchanged at +200; 14.5% proteins were not quoted; 15% proteins up 15 to up 25 at +240B to +275 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 11 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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