DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 37 cents under the December futures contract, while the DTN National Corn Index was up 3 cents at $3.98. The national average basis for soybeans was steady at 76 cents under the January futures contract, while the DTN National Soybean Index was up 6 cents at $10.58. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the December futures contract, and the DTN National Hard Red Winter Wheat Index was up 2 cents at $4.57. The national average basis for hard red spring (HRS) wheat was steady at 22 cents under the MIAX Minneapo

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.98	$0.03	-$0.37	Dec	$0.002
Soybeans:	$10.58	$0.06	-$0.76	Jan	$0.000
SRW Wheat:	$4.76	$0.00	-$0.60	Dec	-$0.002
HRW Wheat:	$4.57	$0.02	-$0.68	Dec	$0.000
HRS Wheat:	$5.48	$0.00	-$0.22	Dec	$0.002

CORN:

The national average corn basis for Wednesday was 37 cents under the December futures, 1 cent stronger than Tuesday's basis. PNW basis is for Dec. is steady at +105, while Hereford, Texas, is 10 cents weaker at +90Z. CIF basis is steady at +74Z and track St. Louis is steady at +14Z. Processors are mixed with Cedar Rapids, Iowa, steady at -21Z; Fort Dodge, Iowa, is 3 cents stronger at -35Z; Council Bluffs, Iowa, is steady at -20Z; Des Moines, Iowa, is 10 cents stronger at -15Z; Decatur, Illinois, is steady at +5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is steady 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 5 cents stronger at -45Z and Marshall, Minnesota, is steady at -32Z.

SOYBEAN:

The national average soybean basis for Wednesday was 76 cents under the January futures, unchanged from Tuesday's basis. PNW basis for November is steady at +75F, while LH Dec. is steady at +95F. CIF basis for November is 1 cent stronger at +66F and track St. Louis is steady at +8F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -7F; St. Paul, Minnesota, is steady at -68F and basis on the Illinois River at Havana, Illinois, is 3 cents weaker at -18F. 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 steady at -95F; NDSP Casselton, North Dakota is 15 cents weaker at -95F; 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 bid plus $250 over against no offers, Nov is bid plus $150 over against offers of plus $500 over and December is bid plus $400 over against offers of plus $600 over. UP secondary freight for returns is bid plus $200 over against no offers, November is bid or plus $100 over against offers of plus $300 over and December is bid even money against offers of plus $250 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 60 cents under the December futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 68 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums were for low protein were higher again as mills continue their buying spree. Ordinary protein is steady at +165; 11.0% through 11.2% is steady at +170; 11.4% through 11.8% is up 5 at +175; 12% through 12.8 is up 6 at +188; 13% through 14% is up 10 at +170. Gulf bid for spot 11% protein is steady 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 Wednesday was 22 cents under the MIAX Minneapolis December futures, unchanged from 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 were not quoted; 13% proteins are not quoted; 13.5 proteins were not quoted; 14 proteins were unchanged at +175N to +200; 14.5% proteins were not quoted; 15% proteins were down 30 to up 20 at +230 to +280B and 16% proteins were not quoted. Wheat receipts on the exchange floor were 55 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

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Join us for DTN's post-report webinar at 12:30 p.m. CST, on Friday, Nov. 14, as we discuss USDA's new estimates in light of recent market events. Questions are welcome and registrants will receive a replay link for viewing at their convenience. Register here for Friday's November WASDE report webinar: https://www.dtn.com/….

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Mary Kennedy can be reached at mary.kennedy@dtn.com

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