DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 46 cents under the December futures contract, while the DTN National Corn Index was up 8 cents at $5.00. The national average basis for soybeans was 8 cents weaker at 47 cents under the November futures, while the DTN National Soybean Index was up 21 cents at $12.71. The national average basis for hard red winter (HRW) wheat was 11 cents stronger at 61 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 19 cents at $7.84. The national average basis for hard red spring (HRS) wheat was 3 cents stronger at 55 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 17 cents at $7.21.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$5.00	$0.08	-$0.46	Dec	$0.001
Soybeans:	$12.71	$0.21	-$0.47	Nov	-$0.085
SRW Wheat:	$7.11	$0.11	-$0.72	Dec	$0.023
HRW Wheat:	$7.84	$0.19	-$0.61	Dec	$0.115
HRS Wheat:	$7.21	$0.17	-$0.55	Dec	$0.028

CORN:

The national average corn basis for Tuesday was 46 cents under the December futures, unchanged from Friday's basis. PNW basis for FH Sep is steady at +107Z and CIF is steady at +66Z. Track St. Louis for September is 14 cents stronger at +22Z. Processors for September are mixed as basis has almost finished moving to the Z. Cedar Rapids, Iowa, is 3 cents stronger at -20Z; Fort Dodge, Iowa, is at -47Z; Council Bluffs, Iowa, is at -36Z; Des Moines, Iowa, is at -40Z; Decatur, Illinois, is at -5Z; MT. Vernon, Indiana is steady at -20Z; Mitchell, South Dakota, is at -65Z; Blair, Nebraska, is at -31Z; Hastings, Nebraska, is at -33Z; Lincoln, Nebraska, is at -45Z; Garden City, Kansas, is at option the Z; Columbus, Nebraska, is at -30Z; 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 at -75Z; and Marshall, Minnesota, is at -53Z.

SOYBEAN:

The national average soybean basis for Tuesday was 47 cents under the November futures, 8 cents weaker Friday's basis. PNW basis for last half September is steady at +170X; CIF basis for September is steady at +102X and track St. Louis for September is 12 cents weaker at +10X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 6 cents weaker at +15X; 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, for Sept. at 40/20/-10X; Des Moines, Iowa, is not quoted; Cedar Rapids, Iowa, is 15 cents stronger at +35X for FH Sept.; Sioux City, Iowa for September is +85/+25/-20X; Mason City, Iowa is steady at option the X; Decatur, Illinois, for September is at +40/+30/+25/+10X; Spiritwood, North Dakota, is steady at option the X; NDSP Casselton, North Dakota is steady at option the X; Hastings, Nebraska, is steady 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 FH Sept and -60X LH Sept.; Mitchell, South Dakota, is 35 cents weaker at -35X; Volga, South Dakota, is 45 cents weaker at +35X, Sidney, Ohio, is 15 cents stronger at +25X and Mankato, Minnesota, is steady at -5U. BN secondary shuttle freight for returns is bid plus $400 over against no offers, FH Sep is bid plus $400 over against offers of plus $600 over, 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 $300 over against no offers, MP September is bid plus $300 over against offers of plus $600 over 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 Tuesday was 72 cents under the December futures, 2 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 61 cents under the Kansas City December futures, 11 cents stronger than 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 Tuesday was 55 cents under the MIAX Minneapolis December futures, 3 cents 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 up 5 to down 5 at +120; 14.5% proteins are at +115; 15% proteins are down 20 to unchanged at +180 to +200, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 24 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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