DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 32 cents under the March futures contract, while the DTN National Corn Index was up 2 cents at $3.95. 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 $10.73. The national average basis for hard red winter (HRW) wheat was steady at 67 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 7 cents at $5.05. 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 up 5 cents at $5.72.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.95	$0.02	-$0.32	Mar	$0.003
Soybeans:	$10.73	-$0.04	-$0.65	Mar	-$0.001
SRW Wheat:	$5.15	$0.14	-$0.58	Mar	-$0.004
HRW Wheat:	$5.05	$0.07	-$0.67	Mar	-$0.002
HRS Wheat:	$5.72	$0.05	-$0.15	Mar	$0.005

CORN:

The national average corn basis for Thursday was 32 cents under the March futures, 1 cent stronger than Wednesday's basis. PNW basis for April is steady at +100K, while Hereford, Texas, is not bid. FH Feb. CIF basis is steady at +101H and Feb. track St. Louis is 2 cents weaker at +20H. Processors are steady 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 steady at +5H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is steady at -10H; Hastings, Nebraska, is steady at -40H; Lincoln, Nebraska, is steady at -35H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is steady at -14H; 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 LH March is 5 cents weaker at +115H. Feb. CIF basis is steady at +106H and Feb. track St. Louis is steady at +24H. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents weaker at -10H; St. Paul, Minnesota, is steady at -62H and basis on the Illinois River at Havana, Illinois, is 1 cent weaker at option the March. Illinois River LaGrange Lock is still seeing delays of approximately 3 days passing tows because poor conditions remain. Barge freight on the Illinois River is seeing high bids but very limited offers for early March. Processors are mixed with Council Bluffs, Iowa, steady at -50H; Des Moines, Iowa, is steady at -50H; Cedar Rapids, Iowa, is 5 cents weaker at -50H; Sioux City is steady at -60H; Decatur, Illinois, is steady at +10H; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is 5 cents stronger at -70H; NDSP Casselton, North Dakota is 5 cents stronger at -65H; Hastings, Nebraska, is steady at -76H; Lincoln, Nebraska, is steady at -45H; Aberdeen, South Dakota, is steady at -100H; Mitchell, South Dakota, is steady at -80H; and Mankato, Minnesota, is steady at -40H.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 58 cents under the March futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 67 cents under the Kansas City March futures, unchanged from Wednesday's basis. Spot premiums were steady to lower with ordinary protein was steady at +112; 11% through 11.2 was steady at +124; 11.4 through 11.8% was up 1 at +128; 12% through 12.2 was down 3 cents at +125; 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 +135 and 14% was steady at +135. 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.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 15 cents under the MIAX Minneapolis March futures, 1 cent stronger than 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 down 15 at +110; 13.5% proteins were unchanged at +115N; 14% proteins are unchanged at +150N; 14.5% proteins were unchanged at +130N; 15% proteins are down 15 to unchanged at +160 to +265N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 9 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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