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 unchanged at $3.99. The national average basis for soybeans was steady at 65 cents under the March futures, while the DTN National Soybean Index was down 4 cents at $10.68. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 67 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was down 12 cents at $4.76. 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 6 cents at $5.56.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.99	$0.00	-$0.33	Mar	-$0.002
Soybeans:	$10.68	-$0.04	-$0.65	Mar	$0.002
SRW Wheat:	$4.91	-$0.06	-$0.57	Mar	-$0.021
HRW Wheat:	$4.76	-$0.12	-$0.67	Mar	-$0.002
HRS Wheat:	$5.56	-$0.06	-$0.16	Mar	-$0.005

CORN:

The national average corn basis for Friday was 33 cents under the March futures, unchanged from Thursday'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 steady at -30H; Council Bluffs, Iowa, is steady at -10H; Des Moines, Iowa, is steady at -19H; Decatur, Illinois, is 2 cents stronger at +5H; 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 Friday was 65 cents under the March futures, unchanged from Thursday's basis. PNW basis for FH March is 2 cents weaker at +110H. Feb. CIF basis is 3 cents weaker at +110H and Feb. track St. Louis is 1 cent weaker at +25H. 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. Illinois River LaGrange Lock and Marseille Lock are seeing delays up to 3 days passing tows because of poor conditions. Processors are mixed with Council Bluffs, Iowa, steady at -50H; Des Moines, Iowa, is 5 cents weaker at -50H; Cedar Rapids, Iowa, is steady at -45H; Sioux City is 10 cents weaker at -60H; 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 Friday was 57 cents under the March futures, 2 cents weaker than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 67 cents under the Kansas City March futures, 1 cent weaker than Thursday's basis. Spot premiums were steady to higher, with mills looking for low proteins Wednesday. Ordinary protein was steady at +112; 11% through 11.2 was steady at +125; 11.4 through 11.8% was up 2 at +127; 12% through 12.2 was up 3 at +128; 12.4% was unchanged at +125;12.6% was steady at +125; 12.8% through 13.6% was steady at +120; 13.8% was steady at +137 and 14% was steady 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 steady at +165. South Korean miller buys 50,000 metric tons of U.S. wheat combo of HRW/HRS/SWW, and 40,000 metric tons of Canadian spring wheat.

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 +125N; 13.5% proteins were unchanged at +125N; 14% proteins are unchanged at +125* to +170; 14.5% proteins were unchanged to down 15 at +135; 15% proteins are up 5 to unchanged at +160 to +230 and 16% proteins were unchanged at +200N. Wheat receipts on the exchange floor were 77 cars, which includes two 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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