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 $4.10. The national average basis for soybeans was steady at 71 cents under the March futures, while the DTN National Soybean Index was down 6 cents at $9.90. 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 down 1 cent at $4.60. The national average basis for hard red spring (HRS) wheat was steady at 16 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was up 1 cent at $5.55.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.10	$0.00	-$0.36	Mar	$0.004
Soybeans:	$9.90	-$0.06	-$0.71	Mar	$0.001
SRW Wheat:	$4.63	$0.00	-$0.55	Mar	-$0.003
HRW Wheat:	$4.60	-$0.01	-$0.70	Mar	$0.003
HRS Wheat:	$5.55	$0.01	-$0.16	Mar	$0.001

CORN:

The national average corn basis for Thursday was 36 cents under the March futures, 1 cent stronger than Thursday basis. PNW basis for Feb. is 3 cents weaker at +112H, while Hereford, Texas, is not bid. Jan. CIF basis is 3 cents weaker at +83H and track St. Louis is steady at +21H. Processors are steady with Cedar Rapids, Iowa, steady at -15H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is steady at -23H; Decatur, Illinois, is steady 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 -55H; and Marshall, Minnesota, is 5 cents weaker at -38H.

SOYBEAN:

The national average soybean basis for Thursday was 71 cents under the March futures, unchanged from Thursday basis. PNW basis for Jan. is steady at +105H. Jan. CIF basis is 4 cents stronger at +92H and Jan. track St. Louis is steady at +24H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents weaker at option the H; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is 4 cents weaker at -4H. Processors are mixed and everybody has moved to H now. Council Bluffs, Iowa, is steady at -45H; Des Moines, Iowa, is 5 cents weaker at -35H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is 10 cents stronger at -40H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is 2 cents weaker at -70H; NDSP Casselton, North Dakota is steady at -70H; Hastings, Nebraska, is steady at -94H; Lincoln, Nebraska, is 9 cents weaker at -45H; Aberdeen, South Dakota, is at -95H; Mitchell, South Dakota, is at -80H; and Mankato, Minnesota, is steady at -35H. BN secondary shuttle freight for returns is not bid vs offers of plus $200 over, LH Jan. is bid plus even money against offers of plus $500 over and Feb. is bid plus $700 over against offers of plus $1200 over. UP secondary freight for returns is not bid plus or offered, and LH January is bid plus $200 over against offers of plus $500 over and February is bid plus $200 over against offers of plus $700 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 55 cents under the March futures, unchanged from Thursday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 70 cents under the Kansas City 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 were unchanged at +115N; 13.5 proteins were unchanged at +120N to +150N; 14 proteins are unchanged to down 25 at +160N to +175A; 14.5% proteins were unchanged at +230N to +265N; 15% proteins are up 65 to down 5 at 250B to +265 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 19 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 16 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 were unchanged at +115N; 13.5 proteins were unchanged at +120N to +150N; 14 proteins are unchanged to down 25 at +160N to +175A; 14.5% proteins were unchanged at +230N to +265N; 15% proteins are up 65 to down 5 at 250B to +265 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 19 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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