DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 39 cents under the March futures contract, while the DTN National Corn Index was up 4 cents at $4.08. The national average basis for soybeans was 1 cent stronger at 67 cents under the January futures, while the DTN National Soybean Index was up 5 cents at $9.87. 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 up 7 cents at $4.49. 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 up 2 cents at $5.62.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.08	$0.04	-$0.39	Mar	$0.008
Soybeans:	$9.87	$0.05	-$0.67	Jan	$0.009
SRW Wheat:	$4.54	$0.05	-$0.61	Mar	-$0.003
HRW Wheat:	$4.49	$0.07	-$0.73	Mar	$0.006
HRS Wheat:	$5.62	$0.02	-$0.18	Mar	$0.000

CORN:

The national average corn basis for Monday was 39 cents under the March futures, 1 cent stronger than Friday 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 steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is steady at option the H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is 3 cents weaker at -10H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -50H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -10H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -35H.

SOYBEAN:

The national average soybean basis for Monday was 67 cents under the January futures, 1 cent stronger than Friday basis. PNW basis for Jan. is steady at +125F. Dec. CIF basis is 7 cents stronger at +95F and Dec. track St. Louis is 11 cents stronger at +26F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady 2 cents stronger at +6F; St. Paul, Minnesota, is 2 cents stronger at -68F and basis on the Illinois River at Havana, Illinois, is 2 cents weaker at -4F. Processors are mixed with Council Bluffs, Iowa, steady 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 steady at +12F; Volga, South Dakota, is 10 cents weaker at -90F; Spiritwood, North Dakota, is 5 cents stronger at -70F; 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.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 61 cents under the March futures, unchanged from Friday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 73 cents under the Kansas City March futures, unchanged from Friday basis. Spot premiums were mostly steady as mills settle into holiday mode. Ordinary protein was steady at +100; 11% through 11.8% was steady at +110; 12 through 12.2% is up 3 at +113; 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 Monday was 18 cents under the MIAX Minneapolis March futures, 1 cent stronger than Friday 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 were unchanged at +135N; 14 proteins are unchanged at +200; 14.5% proteins were unchanged at +150N to +160N; 15% proteins are unchanged at +260N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 1 car, 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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