DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 32 cents under the March futures contract, while the DTN National Corn Index was up 1 cent at $3.97. The national average basis for soybeans was 1 cent weaker at 64 cents under the March futures, while the DTN National Soybean Index was up 26 cents at $10.29. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 5 cents at $4.63. 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 2 cents at $5.50.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.97	$0.01	-$0.32	Mar	$0.001
Soybeans:	$10.29	$0.26	-$0.64	Mar	-$0.009
SRW Wheat:	$4.69	-$0.05	-$0.58	Mar	-$0.028
HRW Wheat:	$4.63	-$0.05	-$0.68	Mar	-$0.001
HRS Wheat:	$5.50	-$0.02	-$0.16	Mar	-$0.002

CORN:

The national average corn basis for Wednesday was 32 cents under the March futures, unchanged from Tuesday's basis. PNW basis for March is 2 cents weaker at +107H, while Hereford, Texas, is not bid. FH Feb. CIF basis is 11 cents stronger at +118H and Feb. track St. Louis is steady at +35H. Processors are mixed with Cedar Rapids, Iowa, steady at -12H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -19H; Decatur, Illinois, is 2 cents weaker at +3H; Mitchell, South Dakota, is steady at -57H; Blair, Nebraska, is 2 cents weaker at -12H; Hastings, Nebraska, is steady at -43H; Lincoln, Nebraska, is steady at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -15H; St. Paul, Minnesota is steady at -45H; and Marshall, Minnesota, is steady at -35H.

SOYBEAN:

The national average soybean basis for Wednesday was 64 cents under the March futures, 1 cent weaker than Tuesday's basis. PNW basis for LH Feb. is steady at +110H. Feb. CIF basis is steady at +113H and Feb. track St. Louis is steady at +35H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents weaker at +5H; St. Paul, Minnesota, is -62H and basis on the Illinois River at Havana, Illinois, is steady at +6H. Reports on the Illinois River note that while no new ice is forming, there is no change in existing ice conditions. Processors are mixed with Council Bluffs, Iowa, 10 cents weaker at -50H; Des Moines, Iowa, is steady at -30H; Cedar Rapids, Iowa, is 10 cents weaker at -40H; Sioux City is steady at -35H; Decatur, Illinois, is steady at +12H; Volga, South Dakota, is steady at -70H; Spiritwood, North Dakota, is 5 cents weaker at -70H; NDSP Casselton, North Dakota is 5 cents weaker at -80H; Hastings, Nebraska, is steady at -91H; Lincoln, Nebraska, is 5 cents weaker at -40H; Aberdeen, South Dakota, is steady at -85H; Mitchell, South Dakota, is 10 cents stronger at -70H; and Mankato, Minnesota, steady at -30H. BN secondary shuttle freight for returns is bid even money against offers of plus $400 over, Feb. is bid plus $250 over against offers of plus $500 over and March is bid plus $250 over against offers of plus $500 over. UP secondary freight for returns is not bid or offered and February is bid plus $300 over against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 58 cents under the March futures, 3 cents weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 68 cents under the Kansas City March futures, unchanged from Tuesday's basis. Spot premiums were steady to lower with ordinary protein steady at +112; 11% through 11.2% was steady at +115; 11.4% was steady at +125; 11.6% was steady at +115; 11.8% was steady at +115; 12% through 12.6% was down 5 at +115; 12.8% is steady at +120; 13% was unchanged at +125; 13.2% was steady at +130; 13.4% through 13.6% was steady at +130; 13.8% was steady at +137 and 14% was up 3 at +150. 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 +185.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 16 cents under the MIAX Minneapolis March futures, unchanged from Tuesday'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 down 25 to down 45 at +155; 14% proteins are down 45 to down 5 to unchanged at +140 to +185; 14.5% proteins were unchanged +200N; 15% proteins are up 15 to unchanged at +180 to +250 and 16% proteins were unchanged at +200N. Wheat receipts on the exchange floor were 34 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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