DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 44 cents under the December futures contract, while the DTN National Corn Index was up 6 cents at $4.90. The national average basis for soybeans was steady at 52 cents under the November futures, while the DTN National Soybean Index was up 22 cents at $12.80. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 69 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 13 cents at $7.50. The national average basis for hard red spring (HRS) wheat was 3 cents weaker at 59 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 11 cents at $7.03.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.90	$0.06	-$0.44	Dec	$0.000
Soybeans:	$12.80	$0.22	-$0.52	Nov	-$0.003
SRW Wheat:	$6.69	$0.13	-$0.72	Dec	$0.003
HRW Wheat:	$7.50	$0.13	-$0.69	Dec	$0.007
HRS Wheat:	$7.03	$0.11	-$0.59	Dec	-$0.036

CORN:

The national average corn basis for Thursday was 44 cents under the December futures, unchanged from Wednesday's basis. PNW basis is not bid until Dec. up 2 cents at +130Z and CIF is steady at +74Z. Track St. Louis for September is steady at +24Z. Processors for September are mixed with Cedar Rapids, Iowa, steady at -10Z; Fort Dodge, Iowa, is steady at -45Z; Council Bluffs, Iowa, is steady at -35Z; Des Moines, Iowa, is steady at -40Z; Decatur, Illinois, is steady at -14Z; MT. Vernon, Indiana is steady at -22Z; Mitchell, South Dakota, is 5 cents stronger at -60Z; Blair, Nebraska, is 8 cents stronger at -23Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is steady at -45Z; Garden City, Kansas, is steady at option the Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is steady at +8Z; Tharaldson Ethanol Casselton, North Dakota is steady at -55Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is at -75Z; and Marshall, Minnesota, is steady at -53Z.

SOYBEAN:

The national average soybean basis for Thursday was 52 cents under the November futures, unchanged from Wednesday's basis. PNW basis for last period (LP) September is steady at +165X; CIF basis for LH September is 3 cents weaker at +105X and track St. Louis for September is steady at option the X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 18 cents stronger at +10X; St. Paul, Minnesota, is steady at -58X and basis on the Illinois River at Havana, Illinois, is steady at -23X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 15 is 15 cents stronger at +65X and balance of Sept. steady at -15X; Des Moines, Iowa, is steady at +10X; Cedar Rapids, Iowa, is 45 cents weaker for Sept. at -30X; Sioux City, Iowa for LH Sept is -15X; Decatur, Illinois, for early September is steady at -10X; Spiritwood, North Dakota, is 10 cents weaker at -30X by FH Sept. and balance Sept. is steady at -30X; NDSP Casselton, North Dakota for LH Sept. is at -30X; Hastings, Nebraska, is 25 cents stronger for Sept. at -25X; Lincoln, Nebraska, is steady at option the X; Grand Island, Nebraska, is steady at -65X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is steady at -25X; Volga, South Dakota, is steady at -35X, Sidney, Ohio, is steady at +25X by Sept.11 and Mankato, Minnesota, is steady at -5X. BN secondary shuttle freight for returns is not bid or offered, LH Sep is bid plus $500 over against offers of plus $1000 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 offers of plus $600 over, LH September is bid plus $400 over against no offers and Oct. is bid plus $300 over against offers of plus $800 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 72 cents under the December futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 69 cents under the Kansas City December futures, 1 cent stronger than Wednesday's basis. Spot premiums are mostly steady with ordinary protein steady at +92; 11% steady at +102; 11.2% is steady at +105; 11.4% protein is steady at +110; 11.6% protein through 12% is steady at +110; 12.2% protein through 12.4% is steady at +105; 12.6% is down 10 at +110; 12.8% protein is steady at +110; 13% through 13.2% proteins are steady at +100;13.4% protein is steady at +105; 13.6% is steady at +107 and 13.8% protein and 14% protein is steady at +108. Gulf track bid for spot 11% protein is steady at +85 with no protein bumps. PNW 11.5% is steady at +135, while Texas Gulf basis for 11% protein is up 20 at +160.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 59 cents under the MIAX Minneapolis December futures, 3 cents weaker than Wednesday'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 +160B; 13% proteins are not quoted; 13.5% proteins are at +140; 14% proteins are up 40 to up 15 at +170 to +175; 14.5% proteins are up 5 at +120; 15% proteins are up 10 to up 5 at +160 to +185, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 45 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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