DTN Daily Basis Comments
Monday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 46 cents under the March futures contract, while the DTN National Corn Index was up 4 cent at $4.02. The national average basis for soybeans was 1 cent weaker at 74 cents under the January futures contract, while the DTN National Soybean Index was up 6 cents at $10.64. The national average basis for hard red winter (HRW) wheat was steady at 79 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 3 cents at $4.48. The national average basis for hard red spring (HRS) wheat was 2 cents weaker at 25 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was down 3 cents at $5.53.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.02 | $0.04 | -$0.46 | Mar | $0.010 |
| Soybeans: | $10.64 | $0.06 | -$0.74 | Jan | -$0.007 |
| SRW Wheat: | $4.74 | $0.00 | -$0.64 | Mar | $0.016 |
| HRW Wheat: | $4.48 | -$0.03 | -$0.79 | Mar | -$0.005 |
| HRS Wheat: | $5.53 | -$0.03 | -$0.25 | Mar | -$0.024 |
CORN:
The national average corn basis for Friday was 46 cents under the March futures, 1 cent stronger than Wednesday's basis. PNW basis for Dec. is +95H and Jan. is 10 cents stronger at +115H, while Hereford, Texas, is bid +100H for J,F,M. Dec. CIF basis is steady at +70H and track St. Louis is steady at +12H. Processors are mixed with some still moving to H with Cedar Rapids, Iowa, steady at option the Z; Fort Dodge, Iowa, is steady at -30Z; Council Bluffs, Iowa, is steady at -5Z; Des Moines, Iowa, is steady at -10Z; Decatur, Illinois, is at -10H; Mitchell, South Dakota, is steady at -67Z; Blair, Nebraska, is steady at -2Z; Hastings, Nebraska, is 3 cents weaker at -35Z; Lincoln, Nebraska, is steady at -47Z; Garden City, Kansas, is steady at -10Z; Columbus, Nebraska, is 3 cents stronger at -2Z; St. Paul, Minnesota river basis is not bid as the far Upper Mississippi River is closed for the winter; and Marshall, Minnesota, is 2 cents stronger at -43H.
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SOYBEAN:
The national average soybean basis for Friday was 74 cents under the January futures, 1 cent weaker than Wednesday's basis. PNW basis for Jan. is 5 cents stronger at +115F. Dec. CIF basis is 6 cents weaker at +72F and Dec. track St. Louis is 10 cents weaker at +18F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -15F; St. Paul, Minnesota, is steady at -55F and basis on the Illinois River at Havana, Illinois, is steady at -11F. Processors are mixed with Council Bluffs, Iowa, steady at -50F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is steady at -40F; Sioux City is steady at -40F; Decatur, Illinois, is steady at option the F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -80F; NDSP Casselton, North Dakota is 2 cents weaker at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is 5 cents stronger at -50F; Aberdeen, South Dakota, is steady at -85F; Mitchell, South Dakota, is steady at -91F; and Mankato, Minnesota, is steady at -40F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $800 over against offers of plus $1000 over, and J, F, M is bid plus $1000 over against offers of plus $1800 over. UP secondary freight for returns is not bid against offers of plus 100 over and December is not bid against offers of plus $200 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 64 cents under the March futures, 2 cents stronger than Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 79 cents under the Kansas City March futures, unchanged from Wednesday's basis. Spot premiums were rolled to H at -15 with ordinary protein through 12.8 at +150; 13% through 14% at +155. Gulf bid for spot 11% protein is steady at +125Z with no protein bumps. PNW 11.5% is steady at +175Z, while Texas Gulf basis for 11% is steady at +150Z.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 25 cents under the MIAX Minneapolis March futures, 2 cents weaker than Wednesday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums MOVED to MARCH closed as follows, basis the March MIAX spring wheat futures: 12% proteins were not quoted; 13% proteins are unchanged at +150N; 13.5 proteins are unchanged +165N to +200N; 14 proteins are up 25 to unchanged at +200; 14.5% proteins were at +235; 15% proteins are down 65 to unchanged at +230 to +300 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 32 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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