DTN Daily Basis Comments
Monday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 43 cents under the December futures contract, while the DTN National Corn Index was down 3 cents at $4.87. The national average basis for soybeans was 1 cent weaker at 53 cents under the November futures, while the DTN National Soybean Index was down 37 cents at $12.43. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 21 cents at $7.29. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 60 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 18 cents at $6.85.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.87 | -$0.03 | -$0.43 | Dec | $0.003 |
| Soybeans: | $12.43 | -$0.37 | -$0.53 | Nov | -$0.009 |
| SRW Wheat: | $6.53 | -$0.16 | -$0.72 | Dec | $0.001 |
| HRW Wheat: | $7.29 | -$0.21 | -$0.70 | Dec | -$0.004 |
| HRS Wheat: | $6.85 | -$0.18 | -$0.60 | Dec | -$0.005 |
CORN:
The national average corn basis for Friday was 43 cents under the December futures, 1 cent stronger than Thursday's basis. PNW basis is not bid until Dec. at +130Z and CIF is 9 cents weaker at +69Z. Track St. Louis for September is 5 cents weaker at -29. 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 steady at -60Z; Blair, Nebraska, is 3 cents stronger at -20Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is steady at -45Z; Garden City, Kansas, is steady 5 cents stronger at +5Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is 4 cents stronger at +12Z; 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.
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SOYBEAN:
The national average soybean basis for Friday was 53 cents under the November futures, 1 cent weaker than Thursday's basis. PNW basis for last period (LP) September is 2 cents stronger at +167X; CIF basis for LH September is 4 cents weaker at +101X and track St. Louis for September is 4 cents weaker at -4X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady 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. 18 is at +65X and balance of Sept. steady at -15X; Des Moines, Iowa, is steady at +10X; Cedar Rapids, Iowa, for Sept. is steady at -30X; Sioux City, Iowa for LH Sept is -15X; Decatur, Illinois, for by September 20 is steady at -10X; Spiritwood, North Dakota, is steady is steady at -30X; NDSP Casselton, North Dakota for LH Sept. is at -30X; Hastings, Nebraska, is steady 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 bid plus $350 over against no offers, LH Sep is bid plus $500 over against offers of plus $800 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, LH September is bid plus $300 over against no offers and Oct. is bid plus $400 over against no offers.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 72 cents under the December futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 70 cents under the Kansas City December futures, 1 cent weaker than Thursday's basis. Spot premiums are steady to weaker with ordinary protein steady at +92; 11% steady at +102; 11.2% is steady at +105; 11.4% protein through 12% is down 5 at +105; 12.2% protein through 12.4% is steady at +105; 12.6% through 12.8% protein is down 5 at +105; 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 steady at +160.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 60 cents under the MIAX Minneapolis December futures, 1 cent weaker than Thursday'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 were not quoted; 13% proteins are at +150; 13.5% proteins are unchanged at +140N; 14% proteins are up 5 to unchanged at +175; 14.5% proteins are unchanged at +120N; 15% proteins are unchanged to down 5 at +160 to +175, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 10 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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