DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 37 cents under the March futures contract, while the DTN National Corn Index was down 1 cent at $4.09. The national average basis for soybeans was steady at 71 cents under the March futures, while the DTN National Soybean Index was up 1 cent at $9.92. 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 $4.60. 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 down 4 cents at $5.52.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.09	-$0.01	-$0.37	Mar	-$0.006
Soybeans:	$9.92	$0.01	-$0.71	Mar	$0.002
SRW Wheat:	$4.62	-$0.01	-$0.55	Mar	$0.002
HRW Wheat:	$4.60	$0.00	-$0.70	Mar	$0.001
HRS Wheat:	$5.52	-$0.04	-$0.16	Mar	$0.000

CORN:

The national average corn basis for Friday was 37 cents under the March futures, 1 cent weaker than Thursday's basis. PNW basis for Feb. is steady at +112H, while Hereford, Texas, is not bid. Jan. CIF basis is steady 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 4 cents weaker at -42H.

SOYBEAN:

The national average soybean basis for Friday was 71 cents under the March futures, unchanged from Thursday's basis. PNW basis for Jan. is steady at +105H. Jan. CIF basis is steady 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 -2H; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is 2 cents stronger at -2H. Processors are steady with Council Bluffs, Iowa, steady at -45H; Des Moines, Iowa, is steady at -35H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is steady at -40H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is steady at -70H; NDSP Casselton, North Dakota is steady at -70H; Hastings, Nebraska, is steady at -94H; Lincoln, Nebraska, is steady 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 or offered, LH Jan. is bid plus $200 against offers of plus $500 over and Feb. is bid plus $800 over against offers of plus $1200 over. UP secondary freight for returns is not bid plus or offered, and LH January is bid plus $100 over against offers of plus $400 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 Friday was 55 cents under the March futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 70 cents under the Kansas City March futures, unchanged from Thursday's basis. Spot premiums were steady with ordinary protein steady at +90; 11% through 11.6% was unchanged at +105; 11.8% was steady +110; 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 +165, while Texas Gulf basis for 11% is unchanged at +140.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 16 cents under the MIAX Minneapolis March futures, unchanged from Thursday'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 unchanged at +115N; 13.5 proteins were up 10 to down 15 at +130 to +135; 14 proteins are unchanged to down 25 at +160N to +11`15A; 14.5% proteins were not quoted; 15% proteins are down 80 to unchanged at +170 to +265 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 36 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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