DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 36 cents under the December futures contract, while the DTN National Corn Index was down 3 cents at $3.91. The national average basis for soybeans was steady at 74 cents under the January futures contract, while the DTN National Soybean Index was down 13 cents at $10.49. 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 9 cents at $4.40. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 18 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 7 cents at $5.55.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.91	-$0.03	-$0.36	Dec	$0.003
Soybeans:	$10.49	-$0.13	-$0.74	Jan	$0.003
SRW Wheat:	$4.71	-$0.08	-$0.56	Dec	$0.018
HRW Wheat:	$4.40	-$0.09	-$0.67	Dec	$0.003
HRS Wheat:	$5.55	-$0.07	-$0.18	Dec	$0.015

CORN:

The national average corn basis for Thursday was 36 cents under the December futures, unchanged from Thursday basis. No PNW basis until Feb. 2026 at +115H, while Hereford, Texas, is not bid. CIF basis is 2 cents weaker at +74Z and track St. Louis is 1 cent weaker at +16Z. Processors are mixed with Cedar Rapids, Iowa, steady at -9Z; Fort Dodge, Iowa, is steady at -32Z; Council Bluffs, Iowa, is 3 cents stronger at -12Z; Des Moines, Iowa, is 5 cents stronger at -10Z; Decatur, Illinois, is steady at +5Z; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is 2 cents stronger at -6Z; 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 -10Z; St. Paul, Minnesota river basis is steady at -40Z and Marshall, Minnesota, is steady at -32Z.

SOYBEAN:

The national average soybean basis for Thursday was 74 cents under the January futures, unchanged from Thursday basis. PNW basis Jan. is 3 cents weaker at +115F. CIF basis is steady at +71F and track St. Louis is steady 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 steady 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 steady 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 $900 over against no offers. J,F,M is bid plus $900 over against offers of plus $1500 over. UP secondary freight for returns is bid plus $100 against no offers and December is bid even money against offers of plus $250 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 56 cents under the December futures, 2 cents stronger than Thursday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 67 cents under the Kansas City December futures, unchanged from Thursday 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 up 10 at +175Z, while Texas Gulf basis for 11% is steady at +150Z. Saudi Arabia is tendering for 300,000 mt of milling wheat for Feb/April and likely not U.S wheat given the price difference vs Black Sea.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 18 cents under the MIAX Minneapolis December futures, 1 cent stronger than Thursday 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 unchanged at +175N to +200N; 13.5 proteins were not quoted; 14 proteins were unchanged at +200N to +225N; 14.5% proteins were not quoted; 15% proteins unchanged at +250N to +325N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 0 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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