DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 41 cents under the March futures contract, while the DTN National Corn Index was down 1 cent at $4.02. The national average basis for soybeans was steady at 70 cents under the January futures contract, while the DTN National Soybean Index was down 12 cents at $10.23. 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 down 5 cents at $4.53. The national average basis for hard red spring (HRS) wheat was down 1 cent at 21 cents under the MIAX Minneapolis March futures contract, and the DTN National Hard Red Spring Wheat Index was down 3 cents at $5.50.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.02	-$0.01	-$0.41	Mar	$0.002
Soybeans:	$10.23	-$0.12	-$0.70	Jan	-$0.006
SRW Wheat:	$4.75	-$0.01	-$0.60	Mar	$0.001
HRW Wheat:	$4.53	-$0.05	-$0.74	Mar	-$0.005
HRS Wheat:	$5.50	-$0.03	-$0.21	Mar	-$0.010

CORN:

The national average corn basis for Monday was 41 cents under the March futures, 1 cent stronger than Friday's basis. PNW basis for FH Jan is steady at +100H and LH Jan. is 5 cents stronger at +120H, while Hereford, Texas, is not bid. Dec. CIF basis is 2 cents stronger at +76H and track St. Louis is 8 cents stronger at +24H. Processors are mixed with Cedar Rapids, Iowa, steady at -7H; Fort Dodge, Iowa, is 4 cents stronger at -36H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is 5 cents stronger at +5H; Mitchell, South Dakota, is steady at -68H; 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 3 cents stronger at -14H; St. Paul, Minnesota river basis is steady at +65H; and Marshall, Minnesota, is steady at -40H.

SOYBEAN:

The national average soybean basis for Monday was 70 cents under the January futures, unchanged from Friday's basis. PNW basis for Jan. is steady at +120F. Dec. CIF basis is 4 cents weaker at +82F and Dec. track St. Louis is 2 cents weaker at +22F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent weaker at -3F; St. Paul, Minnesota, is steady at -68F and basis on the Illinois River at Havana, Illinois, is 6 cents stronger at +2F. Ice is building on the Illinois River causing shipping delays and ice couplings are now mandatory at Starved Rock. 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 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 3 cents stronger at -96F; and Mankato, Minnesota, is steady at -38F.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 74 cents under the Kansas City March futures, 1 cent weaker than Friday's basis. Spot premiums were lower as mill runs slowed during Thanksgiving week and mills are seeing contract applications. Ordinary protein through 11% is down 18 at +112; 11.2% through 12% is down 23 at +112; 12.2% through 12.8 was down 10 at +125; 13% through 13.4% is steady at +150; 13.6% through 13.8% is steady at +150 and 14% was steady at +177 Gulf bid for spot 11% protein is steady at +110 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 Monday was 21 cents under the MIAX Minneapolis March futures, 1 cent weaker 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 were not quoted; 13.5 proteins are unchanged +200; 14 proteins are unchanged at +155N to +200N; 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 18 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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