DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was unchanged at 42 cents under the March futures contract, while the DTN National Corn Index was up 4 at $4.05. The national average basis for soybeans was unchanged at 71 cents under the January futures contract, while the DTN National Soybean Index was up 5 cents at $10.49. The national average basis for hard red winter (HRW) wheat is 1 cent weaker at 74 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $4.60. The national average basis for hard red spring (HRS) wheat was steady at 21 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was down 3 cents at $5.52.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.05 | $0.04 | -$0.42 | Mar | $0.004 |
| Soybeans: | $10.49 | $0.05 | -$0.71 | Jan | $0.009 |
| SRW Wheat: | $4.80 | $0.02 | -$0.60 | Mar | $0.000 |
| HRW Wheat: | $4.60 | $0.04 | -$0.74 | Mar | -$0.004 |
| HRS Wheat: | $5.52 | -$0.03 | -$0.21 | Mar | $0.002 |
CORN:
The national average corn basis for Thursday was 42 cents under the March futures, unchanged from Wednesday'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, 20 cents weaker 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 steady at +65H; and Marshall, Minnesota, is steady at -40H.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
SOYBEAN:
The national average soybean basis for Thursday was 71 cents under the January futures, unchanged from Wednesday's basis. PNW basis for Jan. is steady at +120F. Dec. CIF basis is 2 cents stronger at +86F and Dec. track St. Louis is 10 cents stronger at +26F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at option the F; St. Paul, Minnesota, is steady at -65F 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 steady at +8F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -80F; NDSP Casselton, North Dakota is 5 cents stronger at -75F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -55F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is 3 cents stronger at -96F; and Mankato, Minnesota, is steady at -40F. BN secondary shuttle freight for returns is not bid or offered, December is bid plus $500 over against offers of plus $1200 over, 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 $250 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 Thursday was 60 cents under the March futures, unchanged from Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 74 cents under the Kansas City March futures, 1 cent weaker than Wednesday'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 5 at +135; 12.4% through 12.6% was down 17 at +135; 12.8% was steady at +152; 13% through 13.8% steady at +160 and 14% was up 17 at +177 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. Algeria bought 810,000 to 870,000 metric tons of wheat on Thursday, and Taiwan bought up to 240,000 mt of optional origin feed wheat.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 21 cents under the MIAX Minneapolis March futures, unchanged from Wednesday'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 were not quoted; 13.5 proteins are unchanged +200; 14 proteins are down 25 to down 35 at +155 to +200; 14.5% proteins were unchanged at +250N; 15% proteins are unchanged at +275N to +230N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 14 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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