DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 40 cents under the March futures contract, while the DTN National Corn Index was down 3 cents at $3.96. The national average basis for soybeans was steady at 69 cents under the January futures, while the DTN National Soybean Index was down 9 cents at $9.94. The national average basis for hard red winter (HRW) wheat was steady at 73 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 7 cents at $4.32. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 18 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 3 cents at $5.47.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.96	-$0.03	-$0.40	Mar	$0.002
Soybeans:	$9.94	-$0.09	-$0.69	Jan	$0.004
SRW Wheat:	$4.51	-$0.11	-$0.59	Mar	-$0.001
HRW Wheat:	$4.32	-$0.07	-$0.73	Mar	$0.000
HRS Wheat:	$5.47	-$0.03	-$0.18	Mar	$0.004

CORN:

The national average corn basis for Tuesday was 40 cents under the March futures, 1 cent stronger than Monday's basis. PNW basis for FH Jan is steady to 10 cents stronger at +120H, while Hereford, Texas, is not bid. Dec. CIF basis is 4 cents weaker at +72H and track St. Louis is 12 cents weaker at +12H. Processors are mixed with Cedar Rapids, Iowa, steady at -5H; Fort Dodge, Iowa, is 5 cents stronger at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is steady at option H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is steady at -7H; Hastings, Nebraska, is at -48H; Lincoln, Nebraska, is steady at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -14H; St. Paul, Minnesota river basis is steady at +65H; and Marshall, Minnesota, is 3 cents stronger at -35H.

SOYBEAN:

The national average soybean basis for Tuesday was 69 cents under the January futures, unchanged from Monday's basis. PNW basis for Jan. is 5 cents stronger at +125F. Dec. CIF basis is 4 cents weaker at +82F and Dec. track St. Louis is 6 cents weaker at +16F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent weaker at option the F; St. Paul, Minnesota, is steady at -71F and basis on the Illinois River at Havana, Illinois, is 3 cents weaker at -8F. Ice continues to build on the Illinois River causing shipping delays while Mississippi River at Memphis is at -7 below zero gauge and draft restrictions are in place. Processors are mixed with Council Bluffs, Iowa, steady at -40F; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is steady at -25F; Sioux City is steady at -40F; Decatur, Illinois, is steady at +10F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -75F; NDSP Casselton, North Dakota is 5 cents weaker at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is 15 cents stronger at -40F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is steady at -95F; and Mankato, Minnesota, is 5 cents stronger at -30F. BN secondary shuttle freight for returns is not bid or offered, LH December is bid plus $600 over against offers of +$700, Jan. is bid plus $1200 over against offers of plus $1700 over and J, F, M is bid plus $1200 over against no offers. UP secondary freight for returns is bid plus $250 over against no offers, Dec. is not bid against offers of plus $500 over and January is bid plus $300 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 59 cents under the March futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 73 cents under the Kansas City March futures, unchanged from Monday's basis. Spot premiums were mostly lower again with mills not interested right now. Ordinary protein through 11% is steady at +100; 11.2% is steady at +105; 11.4% through 11.8% is steady at +107; 12% is steady at +110; 12.2% is down 6 at +112; 12.4% through 12.8 was steady at +118; 13% through 13.2% is steady at +120; 13.4% through 13.6% was steady at +130; 13.8% was unchanged at +145 and 14% was steady at +177. Gulf bid for spot 11% protein is down 10 at +100 with no protein bumps. PNW 11.5% is up 20 at +170, while Texas Gulf basis for 11% is up 10 at +135.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 18 cents under the MIAX Minneapolis March futures, 1 cent stronger than Monday'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 +160; 14 proteins are unchanged at +185N; 14.5% proteins are unchanged at +200N; 15% proteins are unchanged at +225N to +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 6 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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