DTN Daily Basis Comments
Tuesday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 2 cents stronger at 46 cents under the December futures contract, while the DTN National Corn Index was up 4 cents at $4.92. The national average basis for soybeans was steady at 38 cents under the November futures, while the DTN National Soybean Index was unchanged at $12.50. The national average basis for hard red winter (HRW) wheat was steady at 73 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 6 cents at $7.65. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 58 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 5 cents at $7.05.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.92 | $0.04 | -$0.46 | Dec | $0.024 |
| Soybeans: | $12.50 | $0.00 | -$0.38 | Nov | -$0.003 |
| SRW Wheat: | $7.00 | -$0.08 | -$0.74 | Dec | $0.019 |
| HRW Wheat: | $7.65 | -$0.06 | -$0.73 | Dec | $0.006 |
| HRS Wheat: | $7.05 | -$0.05 | -$0.58 | Dec | $0.013 |
CORN:
The national average corn basis for Monday was 46 cents under the December futures, 2 cents stronger than Friday's basis. PNW basis for FH Sep is steady at +107Z and CIF is steady at +66Z. Track St. Louis for September is steady at +8Z. Processors for September are mixed as some basis moves to the Z. Cedar Rapids, Iowa, is 5 cents stronger at -23Z; Fort Dodge, Iowa, is steady at -25U; Council Bluffs, Iowa, is 1 cent stronger at -15U; Des Moines, Iowa, is at -40Z; Decatur, Illinois, is at -5Z; Portland, Indiana is 1 cent stronger at +16Z; Mitchell, South Dakota, is 2 cents weaker at -45U; Blair, Nebraska, is at -31Z; Hastings, Nebraska, is at -33Z; Lincoln, Nebraska, is steady at -25U; Garden City, Kansas, is at option the Z; Columbus, Nebraska, is 3 cents weaker at -8U; Marion, Ohio, is steady at option the Z; Tharaldson Ethanol Casselton, North Dakota is steady at -60Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is steady at -50U; and Marshall, Minnesota, is 12 cents stronger at -30U.
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SOYBEAN:
The national average soybean basis for Monday was 38 cents under the November futures, unchanged from Friday's basis. PNW basis for last half September is steady at +170X; CIF basis for September is 3 cents weaker at +102X and track St. Louis for September is steady at +22X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 9 cents weaker at +21X; St. Paul, Minnesota, is steady at -58X and basis on the Illinois River at Havana, Illinois, is steady at -20X. Processors for September are mixed with Council Bluffs, Iowa, 20 cents weaker at +40X by Sept. 4; Des Moines, Iowa, is at steady at -30X; Cedar Rapids, Iowa, is 5 cents stronger at +20X; Sioux City, Iowa is 5 cents stronger at +75X by Sept. 15; Mason City, Iowa is steady at option the X; Decatur, Illinois, is steady at +40X; Spiritwood, North Dakota, is 5 cents weaker at -15X; NDSP Casselton, North Dakota is 30 cents weaker at option the X; Hastings, Nebraska, is 10 cents weaker at -10X; Lincoln, Nebraska, is steady at option the X; Grand Island, Nebraska, is 5 cents weaker at -65X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is 15 cents weaker at option the X; Volga, South Dakota, is 30 cents stronger at +10X, Sidney, Ohio, is steady at +40X and Mankato, Minnesota, is steady at -5U. BN secondary shuttle freight for returns is bid plus $300 over against no offers, FH Sep is bid plus $300 over against no offers, LH September is bid plus $400 over against offers of plus $900 over and October is bid plus $800 over against offers of plus $1600 over. UP secondary shuttle freight for returns is bid plus $200 over against no offers, FH September is bid plus $200 over against no offers and O,N,D (Mexico option) is bid plus $400 over against offers of plus $900 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Monday was 74 cents under the December futures, 2 cents stronger than Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday was 73 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums moved to the December futures with ordinary protein through 11.2% steady +91; 11.4% protein through 12.4% is steady +93; 12.6% is 2 cents stronger at +95; 12.8% protein is unchanged at +97; 13% through 13.4% proteins are up 3 at +97;13.6% protein is at +107; 13.8% protein and 14% protein is steady at +108. Gulf track bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is steady at +140, while Texas Gulf basis for 11% protein is steady at +135.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Monday was 58 cents under the MIAX Minneapolis December futures, 1 cent stronger than Friday's basis. The MIAX Futures Exchange LLC floor trading summary of spot milling spring wheat cash premiums closed as follows, basis the December MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are not quoted; 13.5% proteins are not quoted; 14% proteins are at +115 to +125; 14.5% proteins are not quoted; 15% proteins are at +300 and 16% proteins are not quoted. 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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