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 down 24 cents at $3.85. The national average basis for soybeans was 1 cent stronger at 70 cents under the March futures, while the DTN National Soybean Index was down 13 cents at $9.79. 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 4 cents at $4.57. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 15 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:	$3.85	-$0.24	-$0.36	Mar	$0.005
Soybeans:	$9.79	-$0.13	-$0.70	Mar	$0.009
SRW Wheat:	$4.54	-$0.08	-$0.57	Mar	-$0.024
HRW Wheat:	$4.57	-$0.04	-$0.70	Mar	-$0.001
HRS Wheat:	$5.50	-$0.01	-$0.15	Mar	$0.005

CORN:

The national average corn basis for Monday was 36 cents under the March futures, 1 cent stronger than Friday's basis. PNW basis for Feb. is steady at +112H, while Hereford, Texas, is not bid. Jan. CIF basis is 2 cents stronger at +85H and track St. Louis is 3 cents stronger at +24H. Processors are mixed 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 2 cents weaker at -44H.

SOYBEAN:

The national average soybean basis for Monday was 70 cents under the March futures, 1 cent stronger than Friday's basis. PNW basis for Jan. is 5 cents stronger at +110H. Jan. CIF basis is steady at +92H and Jan. track St. Louis is 2 cents stronger at +26H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at +4H; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is steady at -2H. Processors are mixed with Council Bluffs, Iowa, 5 cents stronger at -40H; 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 10 cents stronger at -60H; Hastings, Nebraska, is steady at -94H; Lincoln, Nebraska, is steady at -45H; Aberdeen, South Dakota, is at -95H; Mitchell, South Dakota, is 1 cent weaker at -10H; and Mankato, Minnesota, is steady at -35H. BN secondary shuttle freight for returns is bid even money against offers of plus $300 over, LH Jan. is bid even money against offers of plus $300 over and Feb. is bid plus $700 over against offers of plus $1100 over. UP secondary freight for returns is bid plus $100 over against no offers, 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 Monday was 57 cents under the March futures, 2 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 70 cents under the Kansas City March futures, unchanged from Friday's basis. Spot premiums were steady to lower with ordinary protein steady at +90; 11% through 11.6% was unchanged at +105; 11.8% was down 4 at +106; 12 through 12.6% was down 14 at +106; 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 up 10 at +150.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 15 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 were unchanged at +115N; 13.5 proteins were up 10 to down 15 at +130 to +135; 14 proteins are down 10 to down 5 at +150 to +190; 14.5% proteins were at +200 to +220; 15% proteins are up 20 to unchanged at +190 to +265N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 73 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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