DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 42 cents under the March futures contract, while the DTN National Corn Index was down 6 at $4.01. The national average basis for soybeans was 1 cent stronger at 71 cents under the January futures contract, while the DTN National Soybean Index was down 9 cents at $10.44. The national average basis for hard red winter (HRW) wheat is steady at 73 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 4 cents at $4.56. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 21 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was down 5 cents at $5.55.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.01	-$0.06	-$0.42	Mar	$0.002
Soybeans:	$10.44	-$0.09	-$0.71	Jan	$0.004
SRW Wheat:	$4.78	-$0.02	-$0.60	Mar	$0.003
HRW Wheat:	$4.56	-$0.04	-$0.73	Mar	-$0.003
HRS Wheat:	$5.55	-$0.05	-$0.21	Mar	-$0.008

CORN:

The national average corn basis for Wednesday was 42 cents under the March futures, 1 cent stronger than Tuesday's basis. PNW basis for Dec. is steady at +100H and Jan. is steady at +115H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +74H and track St. Louis is steady at +16H. Processors are mixed with Cedar Rapids, Iowa, 5 cents stronger at +10H; Fort Dodge, Iowa, is steady at -40H; Council Bluffs, Iowa, is 3 cents stronger at -10H; Des Moines, Iowa, is 5 cents stronger at -20H; Decatur, Illinois, is steady at -5H; 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 at +65H; and Marshall, Minnesota, is 3 cents stronger at -40H.

SOYBEAN:

The national average soybean basis for Wednesday was 71 cents under the January futures, 1 cent stronger than Tuesday's basis. PNW basis for Jan. is steady at +120F. Dec. CIF basis is 4 cents stronger at +84F and Dec. track St. Louis is steady at +16F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents stronger at -2F; St. Paul, Minnesota, is steady at -70F and basis on the Illinois River at Havana, Illinois, is 6 cents stronger at -4F. Processors are mixed with Council Bluffs, Iowa, steady at -45F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is steady at -25F; Sioux City is steady at -45F; Decatur, Illinois, is 3 cents stronger at +8F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -80F; NDSP Casselton, North Dakota is 5 cents weaker at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -55F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is 8 cents weaker at -99F; and Mankato, Minnesota, is 5 cents weaker at -40F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $500 over against no offers, Jan. is bid plus $1000 over against no offers and J, F, M is bid plus $1000 over against offers of plus $1750 over. UP secondary freight for returns is bid plus $100 over against no offers, Dec. is bid plus $50 over against offers of plus $200 over and J,F,M is bid plus $100 over against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 60 cents under the March futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 73 cents under the Kansas City March futures, unchanged from Tuesday's basis. Spot premiums were mixed with ordinary protein through 11% steady at +130; 11.2% through 11.8% steady at +135; 12% through 12.2 was down 12 at +140; 12.4% through 12.8% steady at +152; 13% through 14% steady at +160. Gulf bid for spot 11% protein is steady at +125 with no protein bumps. PNW 11.5% is steady at +150, while Texas Gulf basis for 11% is steady at +125.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 21 cents under the MIAX Minneapolis March futures, 1 cent weaker than Tuesday'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 up 35 to unchanged +200; 14 proteins are up 75 at +180 to +235B; 14.5% proteins were up 15 at +250; 15% proteins are unchanged to up 30 at +275 to +230 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 62 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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