DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 36 cents under the March futures contract, while the DTN National Corn Index was unchanged at $4.08. The national average basis for soybeans was 1 cent stronger at 72 cents under the March futures, while the DTN National Soybean Index was down 5 cents at $9.84. The national average basis for hard red winter (HRW) wheat was unchanged at 70 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $4.51. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 16 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was down 5 at $5.51.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.08	$0.00	-$0.36	Mar	$0.004
Soybeans:	$9.84	-$0.05	-$0.72	Mar	$0.007
SRW Wheat:	$4.56	-$0.02	-$0.55	Mar	-$0.003
HRW Wheat:	$4.51	$0.00	-$0.70	Mar	-$0.003
HRS Wheat:	$5.51	-$0.05	-$0.16	Mar	-$0.013

CORN:

The national average corn basis for Tuesday was 36 cents under the March futures, 1 cent stronger than Monday's basis. PNW basis for Feb. is 3 cents stronger at +115H, while Hereford, Texas, is not bid. Jan. CIF basis is steady at +86H and track St. Louis is steady at +21H. Processors are mixed with Cedar Rapids, Iowa, steady at -15H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is 3 cents weaker at -23H; Decatur, Illinois, is 2 cents weaker at +5H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is steady at -10H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -14H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is steady at -33H.

SOYBEAN:

The national average soybean basis for Tuesday was 72 cents under the March futures, 1 cent stronger than Monday's basis. PNW basis for Jan. is 10 cents weaker at +105H. Jan. CIF basis is at +89H and Jan. track St. Louis is at +22H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at +2H; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is at -4H. Processors are mixed and everybody has moved to H now. Council Bluffs, Iowa, is steady at -45H; Des Moines, Iowa, is steady at -30H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is steady at -50H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is at -68H; NDSP Casselton, North Dakota is 5 cents weaker at -70H; Hastings, Nebraska, is steady at -94H; Lincoln, Nebraska, is at +36H; Aberdeen, South Dakota, is at -95H; Mitchell, South Dakota, is at -80H; and Mankato, Minnesota, is 3 cents stronger at -35H. BN secondary shuttle freight for returns is not bid or offered, FH Jan. is bid plus $200 over (Mexico opt) against offers of plus $400 over, LH Jan. is bid plus $300 over against offers of plus $500 over and Feb. is bid plus $800 over against offers of plus $1500 over. UP secondary freight for returns is not bid plus or offered, and January is bid plus $300 over against offers of plus $550 over and February is bid plus $300 over against offers of plus $850 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 55 cents under the March futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 70 cents under the Kansas City March futures, unchanged from Monday's basis. Spot premiums were steady to higher with ordinary protein steady at +90; 11% through 11.6% was up 5 at +105; 11.8% was steady +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 +110 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 Tuesday was 16 cents under the MIAX Minneapolis March futures, 1 cent weaker 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 were not quoted; 13.5 proteins were up 5 at +130B; 14 proteins are up 35 to unchanged at +160 to +200; 14.5% proteins were unchanged to up 35 at +230N to +265; 15% proteins are down 55 to unchanged at 175 to +265 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 61 cars, which includes one 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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