DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 40 cents under the March futures contract, while the DTN National Corn Index was down 1 cent at $4.04. The national average basis for soybeans was steady at 68 cents under the January futures, while the DTN National Soybean Index was down 3 cents at $9.82. 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 2 cents at $4.42. The national average basis for hard red spring (HRS) wheat was steady at 19 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was up 5 cents at $5.59.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.04	-$0.01	-$0.40	Mar	$0.001
Soybeans:	$9.82	-$0.03	-$0.68	Jan	$0.000
SRW Wheat:	$4.49	$0.00	-$0.61	Mar	-$0.019
HRW Wheat:	$4.42	-$0.02	-$0.73	Mar	-$0.003
HRS Wheat:	$5.59	$0.05	-$0.19	Mar	$0.005

CORN:

The national average corn basis for Friday was 40 cents under the March futures, unchanged from Thursday basis. PNW basis for FH Jan. is steady at +110H and LH Jan. is steady at +120H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +76H and track St. Louis is steady at +11H. Processors are mixed with Cedar Rapids, Iowa, steady at -5H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is 3 cents weaker at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is 6 cents weaker at option the H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is steady at -7H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is 4 cents stronger at -10H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -35H.

SOYBEAN:

The national average soybean basis for Friday was 68 cents under the January futures, unchanged from Thursday basis. PNW basis for Jan. is steady at +125F. Dec. CIF basis is steady at +88F and Dec. track St. Louis is steady at +15F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady 4 cents stronger at +4F; St. Paul, Minnesota, is steady at -70F and basis on the Illinois River at Havana, Illinois, is steady at -2F. Processors are mixed with Council Bluffs, Iowa, 5 cents stronger at -35F; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is steady at -25F; Sioux City is steady at -40F; Decatur, Illinois, is 2 cents stronger at +12F; Volga, South Dakota, is steady at -80F; Spiritwood, North Dakota, is steady at -75F; NDSP Casselton, North Dakota is steady at -80F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -40F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is steady at -95F; and Mankato, Minnesota, is steady at -30F. BN secondary shuttle freight for returns is not bid or offered, LH December is bid plus $300 over against offers of plus $800, Jan. is bid plus $1000 over against offers of plus $1900 over and Feb. is bid plus $1000 over against no offers. UP secondary freight for returns is bid plus $250 over against no offers, Dec. is plus $250 over against offers of plus $500 over and January is bid plus $400 over against offers of plus $700 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 61 cents under the March futures, 2 cents weaker than Thursday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 73 cents under the Kansas City March futures, unchanged from Thursday basis. Spot premiums were steady to higher as mills were in a buying mood Friday. Ordinary protein was steady at +100; 11% was up 10 at +110; 11.2% through 12.2% is up 5 at +110; 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 steady at +100 with no protein bumps. PNW 11.5% is steady at +140, while Texas Gulf basis for 11% is unchanged at +135.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 19 cents under the MIAX Minneapolis March futures, unchanged from Thursday 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 up 10 to down 10 at +135; 14 proteins are up 55 to up 20 at +200; 14.5% proteins were unchanged at +150N to +160N; 15% proteins are up 65 at +260 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 9 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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