DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 35 cents under the March futures contract, while the DTN National Corn Index was up 3 cents at $3.89. The national average basis for soybeans was 1 cent stronger at 66 cents under the March futures, while the DTN National Soybean Index was unchanged at $9.98. The national average basis for hard red winter (HRW) wheat was steady at 69 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 6 cents at $4.56. 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 10 cents at $5.57.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.89	$0.03	-$0.35	Mar	$0.006
Soybeans:	$9.98	$0.00	-$0.66	Mar	$0.008
SRW Wheat:	$4.61	$0.09	-$0.54	Mar	$0.009
HRW Wheat:	$4.56	$0.06	-$0.69	Mar	-$0.001
HRS Wheat:	$5.57	$0.10	-$0.16	Mar	-$0.002

CORN:

The national average corn basis for Thursday was 35 cents under the March futures, unchanged from Wednesday's basis. PNW basis for Feb. is steady at +115H, while Hereford, Texas, is not bid. Jan. CIF basis is steady at +88H and track St. Louis is steady at +28H. Processors are mixed with Cedar Rapids, Iowa, steady at -12H; Fort Dodge, Iowa, is 1 cent weaker at -30H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is steady at -17H; Decatur, Illinois, is steady at +3H; Mitchell, South Dakota, is steady at -61H; Blair, Nebraska, is steady at -7H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is steady at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -12H; St. Paul, Minnesota is steady at -55H; and Marshall, Minnesota, is 3 cents stronger at -37H.

SOYBEAN:

The national average soybean basis for Thursday was 66 cents under the March futures, 1 cent stronger than Wednesday's basis. PNW basis for Jan. is 5 cents stronger at +115H. Jan. CIF basis is steady at +108H and Jan. track St. Louis is 1 cent weaker at +30H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +8H; St. Paul, Minnesota, is steady at -75H and basis on the Illinois River at Havana, Illinois, is steady at option the H. Ice is building on the Illinois River and couplings are required and barge traffic is slow. Starting late Saturday, may start to see fleets shutting down with ice / snow forecasted and boat delays. Likely little happening this weekend into early next week, according to Ceres Barge. Processors are mixed with Council Bluffs, Iowa, steady at -40H; Des Moines, Iowa, is steady at -35H; Cedar Rapids, Iowa, is steady at -30H; Sioux City is 10 cents stronger at -30H; Decatur, Illinois, is steady at +5H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is steady at -60H; NDSP Casselton, North Dakota is steady at -55H; Hastings, Nebraska, is steady at -94H; Lincoln, Nebraska, is steady at -35H; Aberdeen, South Dakota, is steady at -90H; Mitchell, South Dakota, is steady at -80H; and Mankato, Minnesota, steady at -30H. BN secondary shuttle freight for returns is bid plus $400 over against no offers, LH Jan. is bid plus $400 over against no offers and Feb. is bid plus $900 over against offers of plus $1300 over. UP secondary freight for returns is bid plus $100 over against no offers, LH January is bid plus $100 over against offers of plus $400 over and February is bid plus $200 over against offers of plus $400 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 54 cents under the March futures, 1 cent stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 69 cents under the Kansas City March futures, unchanged from Wednesday's basis. Spot premiums were steady to higher with ordinary protein up 14 at +114; 11% through 11.4% was up 9 at +114; 11.6% was steady at +135; 11.8% was up 3 at +138; 12% through 12.4% was up 10 at +145; 12.6% was 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 +155, while Texas Gulf basis for 11% is steady at +180.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 16 cents under the MIAX Minneapolis March futures, unchanged from Wednesday'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 +95N; 13.5% proteins were unchanged at +125N; 14% proteins are up 50 to unchanged at +190; 14.5% proteins were up 25 at +170; 15% proteins are unchanged at +180N to +250 and 16% proteins were unchanged at +185N. Wheat receipts on the exchange floor were 31 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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