DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was one cent stronger at 36 cents under the December futures contract, while the DTN National Corn Index was up 2 cents at $4.01. The national average basis for soybeans was 1 cent stronger at 74 cents under the January futures contract, while the DTN National Soybean Index was up 3 cents at $10.79. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 67 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 2 cents at $4.59. The national average basis for hard red spring (HRS) wheat was 2 cents weaker at 20 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 8 cents at $5.63.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.01	$0.02	-$0.36	Dec	$0.004
Soybeans:	$10.79	-$0.03	-$0.74	Jan	$0.006
SRW Wheat:	$4.89	$0.03	-$0.58	Dec	$0.006
HRW Wheat:	$4.59	-$0.02	-$0.67	Dec	$0.008
HRS Wheat:	$5.63	$0.08	-$0.20	Dec	-$0.011

CORN:

The national average corn basis for Tuesday was 36 cents under the December futures, 1 cent stronger than Monday's basis. No PNW basis until Feb. 2026 at +115H, while Hereford, Texas, is not bid. CIF basis is 1 cent stronger at +76Z and track St. Louis is 1 cent weaker at +17Z. Processors are mixed with Cedar Rapids, Iowa, steady 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 5 cents weaker at +5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is 2 cents stronger at -13Z; Hastings, Nebraska, is steady at -32Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is steady 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 Tuesday was 74 cents under the January futures, 1 cent stronger than Monday's basis. PNW basis for Dec. is 15 cents weaker +90 and Jan. is 8 cents stronger at +120F. CIF basis is 1 cent weaker at +74F and track St. Louis is 15 cents steady at +15F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -4F; St. Paul, Minnesota, is steady at -55F and basis on the Illinois River at Havana, Illinois, is 4 cents stronger at -10F. Processors are mixed with Council Bluffs, Iowa, steady at -50F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is steady 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 weaker at -90F; NDSP Casselton, North Dakota is steady 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 $300 over against no offers of plus $500 over, December is bid plus $600 over against offers of plus $plus $950 over and January is bid plus $800 over against offers of plus $1200 over. UP secondary freight for returns is bid plus $100 against no offers, LH November is not bid against offers of plus $200 over and December is bid even money against offers of plus $200 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 58 cents under the December futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 67 cents under the Kansas City December futures, 1 cent stronger than Monday's basis. Spot premiums were quiet and remained steady. 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 steady at +175; 12% is steady at +175; 12.2 through 12.4 is steady at +190; 12.6 through 12.8 is steady at +175; 13% through 14% is steady at +170. Gulf bid for spot 11% protein is steady at +125Z with no protein bumps. PNW 11.5% is steady at +165Z, while Texas Gulf basis for 11% is up 5 at +150Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 20 cents under the MIAX Minneapolis December futures, 2 cents weaker than 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 up 25 to unchanged at +200B; 14 proteins were unchanged to up 25 at +200 to +225B; 14.5% proteins were not quoted; 15% proteins up 25 to up 70 at +275 to +325 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 16 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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