DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 38 cents under the March futures contract, while the DTN National Corn Index was down 7 cents at $4.04. The national average basis for soybeans was 2 cents stronger at 65 cents under the January futures, while the DTN National Soybean Index was down 8 cents at $9.84. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 72 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 6 cents at $4.55. 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 unchanged at $5.61.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.04	-$0.07	-$0.38	Mar	$0.005
Soybeans:	$9.84	-$0.08	-$0.65	Jan	$0.013
SRW Wheat:	$4.56	-$0.06	-$0.57	Mar	$0.003
HRW Wheat:	$4.55	-$0.06	-$0.72	Mar	$0.007
HRS Wheat:	$5.61	$0.00	-$0.18	Mar	$0.004

CORN:

The national average corn basis for Monday was 38 cents under the March futures, 1 cent stronger than Friday's basis. PNW basis for Feb. is steady at +125H, while Hereford, Texas, is not bid. Dec. CIF basis is steady at +78H and track St. Louis is steady at +16H. Processors are mixed with Cedar Rapids, Iowa, steady at -13H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is 10 cents stronger at +10H; Mitchell, South Dakota, is steady at -68H; Blair, Nebraska, is 5 cents stronger at -7H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -47H; 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 65 cents under the January futures, 2 cents stronger than Friday's basis. PNW basis for Jan. is steady at +125F. Dec. CIF basis is steady at +95F and Dec. track St. Louis is steady at +28F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +7F; St. Paul, Minnesota, is steady at -67F and basis on the Illinois River at Havana, Illinois, is steady at +7F. Processors are mixed with Council Bluffs, Iowa, steady at -35F; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is steady at -35F; Sioux City is steady at -55F; Decatur, Illinois, is steady at +12F; Volga, South Dakota, is steady at -90H; Spiritwood, North Dakota, is steady at -70F; NDSP Casselton, North Dakota is steady at -75F; Hastings, Nebraska, is at -90F; Lincoln, Nebraska, is steady at -40F; Aberdeen, South Dakota, is steady at -90F; Mitchell, South Dakota, is 4 cents stronger at -91F; and Mankato, Minnesota, is steady at -30F.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 57 cents under the March futures, 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 72 cents under the Kansas City March futures, 1 cent stronger than Friday's basis. Spot premiums were steady as mills remain in holiday mode. Ordinary protein was steady at +100; 11% through 11.8% was steady at +105; 12 through 12.2% is steady 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 steady at +137 and 14% was steady at +147. 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'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 unchanged at +150N; 13.5 proteins were unchanged +130N to +170N; 14 proteins are unchanged at +160N to +190N; 14.5% proteins were unchanged at +175N; 15% proteins are unchanged at +250N to +265N and 16% proteins were not quoted. Wheat receipts on the exchange floor were zero 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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