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 down 7 cents at $3.94. The national average basis for soybeans was steady at 74 cents under the January futures contract, while the DTN National Soybean Index was down 17 cents at $10.62. The national average basis for hard red winter (HRW) wheat was steady at 67 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 11 cents at $4.49. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 19 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.62.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.94	-$0.07	-$0.36	Dec	$0.002
Soybeans:	$10.62	-$0.17	-$0.74	Jan	$0.004
SRW Wheat:	$4.79	-$0.10	-$0.58	Dec	$0.000
HRW Wheat:	$4.49	-$0.11	-$0.67	Dec	$0.000
HRS Wheat:	$5.62	-$0.01	-$0.19	Dec	$0.003

CORN:

The national average corn basis for Wednesday was 36 cents under the December futures, unchanged from Tuesday's basis. No PNW basis until Feb. 2026 at +115H, while Hereford, Texas, is not bid. CIF basis is steady at +76Z and track St. Louis is steady at +17Z. Processors are mixed with Cedar Rapids, Iowa, steady at -9Z; Fort Dodge, Iowa, is 3 cents stronger at -32Z; Council Bluffs, Iowa, is steady at -20Z; Des Moines, Iowa, is steady at -15Z; Decatur, Illinois, is steady at +5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is 5 cents stronger at -8Z; 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 Wednesday was 74 cents under the January futures, unchanged from Tuesday's basis. PNW basis for Dec. is steady +90F and Jan. is 2 cents weaker at +118F. CIF basis is 3 cents weaker at +71F and track St. Louis is 5 cents weaker at +10F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents weaker at -10F; St. Paul, Minnesota, is steady at -55F and basis on the Illinois River at Havana, Illinois, is steady 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 stronger at -85F; 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, December is bid plus $700 over against no offers and January is bid plus $800 over against no offers. UP secondary freight for returns is bid plus $100 against no offers and December is bid even money against no offers.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 67 cents under the Kansas City December futures, unchanged from Tuesday'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 steady at +150Z.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 19 cents under the MIAX Minneapolis December futures, 1 cent stronger than 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 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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