DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 3 cents stronger at 43 cents under the March futures contract, while the DTN National Corn Index was unchanged at $4.02. The national average basis for soybeans was 3 cents stronger at 71 cents under the January futures contract, while the DTN National Soybean Index was down 7 cents at $10.57. The national average basis for hard red winter (HRW) wheat was 11 cents stronger at 68 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 10 cents at $4.59. The national average basis for hard red spring (HRS) wheat was 5 cents stronger at 20 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was up 4 cents at $5.56.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.02	$0.00	-$0.43	Mar	$0.028
Soybeans:	$10.57	-$0.07	-$0.71	Jan	$0.028
SRW Wheat:	$4.75	$0.01	-$0.60	Mar	$0.044
HRW Wheat:	$4.59	$0.10	-$0.68	Mar	$0.112
HRS Wheat:	$5.56	$0.04	-$0.20	Mar	$0.057

CORN:

The national average corn basis for Monday was 43 cents under the March futures, 3 cents stronger than Friday's basis. PNW basis for Dec. is 5 cents stronger at +100H and Jan. is steady at +115H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +70H and track St. Louis is steady at +12H. Processors are mixed as the rest move to H with Cedar Rapids, Iowa, steady at +5H; Fort Dodge, Iowa, is steady at -40H; Council Bluffs, Iowa, is at -13H; Des Moines, Iowa, is at -25H; Decatur, Illinois, is at -10H; Mitchell, South Dakota, is steady at -65H; Blair, Nebraska, is steady at -14H; Hastings, Nebraska, is at -48H; Lincoln, Nebraska, is at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -17H; St. Paul, Minnesota river basis is not bid as the far Upper Mississippi River is closed for the winter; and Marshall, Minnesota, is steady at -43H.

SOYBEAN:

The national average soybean basis for Monday was 71 cents under the January futures, 3 cents stronger than Friday's basis. PNW basis for Jan. is 5 cents weaker at +110F. Dec. CIF basis is steady at +72F and Dec. track St. Louis is 7 cents weaker at +11F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at -13F; St. Paul, Minnesota, is 15 cents weaker at -70F and basis on the Illinois River at Havana, Illinois, is steady at -10F. Processors are mixed with Council Bluffs, Iowa, steady at -45F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is 5 cents stronger at -25F; Sioux City is 5 cents weaker at -45F; Decatur, Illinois, is 5 cents stronger at +5F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -80F; NDSP Casselton, North Dakota is steady at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -55F; Aberdeen, South Dakota, is 5 cents weaker at -90F; Mitchell, South Dakota, is steady at -91F; and Mankato, Minnesota, is 5 cents stronger at -35F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $700 over against offers of plus $1300 over, and J, F, M is bid plus $1000 over against offers of plus $1600 over. UP secondary freight for returns is bid even money against offers of plus 100 over and FH December is not bid even money against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 60 cents under the March futures, 4 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 March futures, 11 cents stronger than Friday's basis. Spot premiums lower today with ordinary protein through 11.8% down 20 at +130; 12% through 12.8% steady at +150; 13% through 14% steady 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 Monday was 20 cents under the MIAX Minneapolis March futures, 5 cents stronger than Friday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums 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 down 50 at +150; 14.5% proteins were at +235; 15% proteins are up 20 to down 50 to unchanged at +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 12 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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