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 up 3 cents at $3.94. The national average basis for soybeans was also steady at 76 cents under the January futures contract, while the DTN National Soybean Index was down 3 cents at $10.52. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 68 cents under the December futures contract, and the DTN National Hard Red Winter Wheat Index was down 4 cents at $4.56. The national average basis for hard red spring (HRS) wheat was steady at 22 cents under the MIAX Minneapolis December futures contract, while the DTN National Hard Red Spring Wheat Index was up 5 cents at $5.48.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.94	$0.03	-$0.38	Dec	$0.008
Soybeans:	$10.52	-$0.03	-$0.76	Jan	$0.000
SRW Wheat:	$4.76	$0.01	-$0.60	Dec	$0.012
HRW Wheat:	$4.56	-$0.04	-$0.68	Dec	-$0.008
HRS Wheat:	$5.48	$0.05	-$0.22	Dec	-$0.001

CORN:

The national average corn basis for Tuesday was 38 cents under the December futures, unchanged from Monday's basis. PNW basis is for Dec. is 10 cents weaker at +105, while Hereford, Texas, is steady at +100Z. CIF basis is 8 cents weaker at +74Z and track St. Louis is 7 cents weaker at +14Z. Processors are mixed with Cedar Rapids, Iowa, 4 cents stronger at -21Z; Fort Dodge, Iowa, is steady at -38Z; Council Bluffs, Iowa, is 2 cents stronger at -20Z; Des Moines, Iowa, is steady at -25Z; Decatur, Illinois, is steady at -5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is 7 cents stronger at -20Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is 5 cents stronger at -25Z; St. Paul, Minnesota river basis is 10 cents weaker at -50Z and Marshall, Minnesota, is 3 cents stronger at -32Z.

SOYBEAN:

The national average soybean basis for Tuesday was 76 cents under the January futures, unchanged from Monday's basis. PNW basis for November is 15 cents weaker at +75F, while LH Dec. is 15 cents weaker at +95F. CIF basis for November is 5 cents weaker at +65F and track St. Louis is steady at +8F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents weaker at -7F; St. Paul, Minnesota, is steady at -68F and basis on the Illinois River at Havana, Illinois, is 3 cents weaker at -15F. Processors are mixed with Council Bluffs, Iowa, is steady at -50F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is steady at -25X; Sioux City is steady at -40F; Decatur, Illinois, is at +6F; Volga, South Dakota, is at -70F; Spiritwood, North Dakota, is 10 cents weaker at -95F; 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 -40F. BN secondary shuttle freight for returns is not bid or offered, MP Nov is bid plus $600 over against no offers and LH November is bid plus $500 over against no offers and LH Nov is bid plus $400 over against offers of plus $800 over. UP secondary freight for returns is bid plus $200 over against no offers, FH Nov. is not bid or offered and LH Nov. is not bid against offers of plus $300 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 60 cents under the December futures, 1 cent stronger than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 68 cents under the Kansas City December futures, 1 cent weaker than Monday's basis. Spot premiums were for low protein were higher as mills continue their buying spree. Ordinary protein is steady at +165; 11.0% through 11.8% is steady at +170; 12% though 12.2% is up 2 at +182; 12.4% through 12.6 is up 17 at +182; 12.8 is up 22 at +182; 13% through 13.8% is steady at +160 and 14% is steady at +160. Gulf bid for spot 11% protein is down 5 at +120Z with no protein bumps. PNW 11.5% is up 5 at +165Z, while Texas Gulf basis for 11% is steady at +145Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 22 cents under the MIAX Minneapolis December futures, unchanged from Monday'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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