DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 33 cents under the March futures contract, while the DTN National Corn Index was up 3 at $3.98. The national average basis for soybeans was steady at 65 cents under the March futures, while the DTN National Soybean Index was up 13 cents at $10.72. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 66 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 16 cents at $4.88. 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 7 cents at $5.62.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.98	$0.03	-$0.33	Mar	-$0.003
Soybeans:	$10.72	$0.13	-$0.65	Mar	-$0.001
SRW Wheat:	$4.97	$0.15	-$0.55	Mar	-$0.007
HRW Wheat:	$4.88	$0.16	-$0.66	Mar	$0.002
HRS Wheat:	$5.62	$0.07	-$0.16	Mar	-$0.001

CORN:

The national average corn basis for Thursday was 33 cents under the March futures, unchanged from Wednesday's basis. PNW basis for April is steady at +103H, while Hereford, Texas, is not bid. FH Feb. CIF basis is steady at +101H and Feb. track St. Louis is steady at +26H. Processors are mixed with Cedar Rapids, Iowa, steady at -14H; Fort Dodge, Iowa, is 1 cent weaker at -30H; Council Bluffs, Iowa, is 2 cents weaker at -10H; Des Moines, Iowa, is steady at -19H; Decatur, Illinois, is steady at +3H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is steady at -12H; Hastings, Nebraska, is steady at -40H; Lincoln, Nebraska, is steady at -35H; 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 -36H.

SOYBEAN:

The national average soybean basis for Thursday was 65 cents under the March futures, unchanged from Wednesday's basis. PNW basis for FH March is steady at +112H. Feb. CIF basis is steady at +113H and Feb. track St. Louis is steady at +26H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -5H; St. Paul, Minnesota, is steady at -62H and basis on the Illinois River at Havana, Illinois, is steady at +6H. Barge lines report that northbound and southbound transit is resuming on the Illinois River, but recover is slow. Processors are steady with Council Bluffs, Iowa, steady at -50H; Des Moines, Iowa, is steady at -45H; Cedar Rapids, Iowa, is steady at -45H; Sioux City is steady at -50H; Decatur, Illinois, is steady at +10H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is steady at -80H; NDSP Casselton, North Dakota is steady at -80H; Hastings, Nebraska, is steady at -81H; Lincoln, Nebraska, is steady at -45H; Aberdeen, South Dakota, is 10 cents weaker at -100H; Mitchell, South Dakota, is steady at -80H; and Mankato, Minnesota, is steady at -40H. BN secondary shuttle freight for returns is not bid or offered, Feb. is bid plus $150 over against offers of plus $300 over and March is bid plus $150 over against offers of plus $300 over. UP secondary freight for returns is bid plus $100 over against no offers and February is bid plus $100 over against no offers and March is bid even money against offers of plus $250 over.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 66 cents under the Kansas City March futures, 1 cent stronger than Wednesday's basis. Spot premiums were steady to higher, with mills looking for low proteins Wednesday. Ordinary protein was steady at +112; 11% through 11.6% was up 10 at +125; 11.8% through 12.2 was up 8 at +125; 12.4% was unchanged at +117;12.6% was up 2 at +117;12.8% is steady at +120; 13% was unchanged at +125; 13.2% through 13.4 was steady at +128; 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 +115 with no protein bumps. PNW 11.5% is steady at +155, while Texas Gulf basis for 11% is down 15 at +165.

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 at +125; 13.5% proteins were unchanged at +125N; 14% proteins are down 25 to up 20 at +125* to +170; 14.5% proteins were down 40 to down 25 at +235 to +250; 15% proteins are up 10 to unchanged at +155 to +230 and 16% proteins were unchanged at +200N. Wheat receipts on the exchange floor were 51 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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