DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 37 cents under the December futures contract, while the DTN National Corn Index was up 5 cents at $3.98. The national average basis for soybeans was steady at 75 cents under the January futures contract, while the DTN National Soybean Index was up 33 cents at $10.82. 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 up 13 cents at $4.61. The national average basis for hard red spring (HRS) wheat was steady at 18 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 9 cents at $5.55.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.98	$0.05	-$0.37	Dec	$0.002
Soybeans:	$10.82	$0.33	-$0.75	Jan	-$0.001
SRW Wheat:	$4.86	$0.18	-$0.58	Dec	$0.015
HRW Wheat:	$4.61	$0.13	-$0.68	Dec	-$0.003
HRS Wheat:	$5.55	$0.09	-$0.18	Dec	-$0.001

CORN:

The national average corn basis for Monday was 37 cents under the December futures, unchanged from Friday's basis. PNW basis is for FH Dec. is 2 cents weaker at +103, while Hereford, Texas, is not bid. CIF basis is steady at +75Z and track St. Louis is 4 cents stronger at +18Z. Processors are mixed with Cedar Rapids, Iowa, 12 cents stronger at -9Z; Fort Dodge, Iowa, is steady at -35Z; Council Bluffs, Iowa, is steady at -20Z; Des Moines, Iowa, is steady at -15Z; Decatur, Illinois, is steady at +10Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is steady at -15Z; 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 -15Z; St. Paul, Minnesota river basis is steady at -40Z and Marshall, Minnesota, is steady at -32Z.

SOYBEAN:

The national average soybean basis for Monday was 75 cents under the January futures, unchanged from Friday's basis. PNW basis for Dec. is +105 and Jan. is up 12 at +112F. CIF basis is 13 cents stronger at +75F and track St. Louis is 15 cents stronger at +15F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 8 cents stronger at -4F; St. Paul, Minnesota, is 10 cents stronger at -55F and basis on the Illinois River at Havana, Illinois, is steady at -14F. Processors are mixed with Council Bluffs, Iowa, steady at -50F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is 5 cents weaker at -35F; Sioux City is steady at -40F; Decatur, Illinois, is steady at +6F; Volga, South Dakota, is at -70F; Spiritwood, North Dakota, is 5 cents stronger at -85F; NDSP Casselton, North Dakota is 5 cents stronger at -90F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -30F; Aberdeen, South Dakota, is steady at -85F; Mitchell, South Dakota, is at -85F; and Mankato, Minnesota, is steady at -40F. BN secondary shuttle freight for returns is bid plus $100 over against offers of plus $500 over, LH Nov is bid even money against offers of plus $400 over and December is bid plus $600 over against offers of plus $800 over. UP secondary freight for returns is bid even money against offers of plus $200 over, LH November is not bid against offers of plus $200 over and FH December is bid even money against offers of plus $200 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 58 cents under the December futures, 2 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 68 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums dropped as more wheat showed up given the strength in prices. Ordinary protein is steady at +165; 11.0% through 11.2% is steady at +170; 11.4% through 11.6% is at +175; 11.8% is down 19 at +175; 12% is down 15 at +175; 12.2 through 12.4 is up 2 at +190; 12.6 through 12.8 is down 13 at +175; 13% through 14% is steady at +170. Gulf bid for spot 11% protein is up 5 at +125Z with no protein bumps. PNW 11.5% is steady at +165Z, while Texas Gulf basis for 11% is steady at +145Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 18 cents under the MIAX Minneapolis December futures, unchanged from Friday'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 steady at +175N to +200N; 14 proteins were unchanged at +200N; 14.5% proteins were unchanged +225N; 15% proteins unchanged at +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 3 cars, which includes one 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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