DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 42 cents under the December futures contract, while the DTN National Corn Index was up 3 cents at $4.93. The national average basis for soybeans was 1 cent weaker at 56 cents under the November futures, while the DTN National Soybean Index was up 13 cents at $12.63. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 68 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 5 cents at $7.28. The national average basis for hard red spring (HRS) wheat was steady at 61 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 12 cents at $6.88.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.93	$0.03	-$0.42	Dec	$0.002
Soybeans:	$12.63	$0.13	-$0.56	Nov	-$0.011
SRW Wheat:	$6.57	$0.06	-$0.72	Dec	-$0.002
HRW Wheat:	$7.28	$0.05	-$0.68	Dec	$0.014
HRS Wheat:	$6.88	$0.12	-$0.61	Dec	-$0.001

CORN:

The national average corn basis for Tuesday was 42 cents under the December futures, 1 cent stronger than Monday's basis. PNW basis is not bid until Dec. and 2 cents stronger at +132Z and CIF is 8 cents stronger at +79Z. Track St. Louis for September is steady at -29. Processors for September are mixed with Cedar Rapids, Iowa, 5 cents stronger at -14Z; Fort Dodge, Iowa, is steady at -45Z; Council Bluffs, Iowa, is steady at -32Z; Des Moines, Iowa, is steady at -40Z; Decatur, Illinois, is 2 cents stronger at -12Z; MT. Vernon, Indiana is steady at -22Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is 2 cents stronger at -18Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is steady at -45Z; Garden City, Kansas, is steady at +5Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is steady at +15Z; Tharaldson Ethanol Casselton, North Dakota is steady at -55Z; Blue Flint, North Dakota is steady at -60Z; St. Paul, Minnesota, is steady at -75Z; and Marshall, Minnesota, is steady at -53Z

SOYBEAN:

The national average soybean basis for Tuesday was 56 cents under the November futures, 1 cent weaker than Monday's basis. PNW basis for last period (LP) September is 5 cents weaker at +160X; CIF basis for LH September is steady at +101X and track St. Louis for September is steady at -4X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 7 cents weaker at +17X; St. Paul, Minnesota, is 22 cents weaker at -80X and basis on the Illinois River at Havana, Illinois, is 5 cents weaker at -28X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 19 is 10 cents stronger at +75X and balance of Sept. steady at -15X; Des Moines, Iowa, is steady at +70X by Sept. 19 and -20X after; Cedar Rapids, Iowa, for Sept. is steady at -30X; Sioux City, Iowa is 35 cents stronger at +75X by Sept. 19 and -15X after; Decatur, Illinois for Sept. 16 to Oct. 10 is steady at -20X; Spiritwood, North Dakota, is steady at -45X; NDSP Casselton, North Dakota for LH Sept. is steady at -20X; 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 -35X; Volga, South Dakota, steady at -55X, Sidney, Ohio, is steady at +50X by Sept.18 and Mankato, Minnesota, is steady at -5X. BN secondary shuttle freight for returns is bid plus $450 over against no offers, LH Sep is bid plus $450 over against no offers, Sept. 25 to Oct. 5 is plus $700 over against offers of plus $1200 over and October is bid plus $800 over against offers of plus $1400 over. UP secondary shuttle freight for returns is bid plus $300 over against no offers, LH September is bid plus $300 over against no offers and Oct. (Mexico option) is bid plus $300 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, 1 cent weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 68 cents under the Kansas City December futures, 2 cents stronger than Monday's basis. Spot premiums are steady to weaker with ordinary protein steady at +92; 11% up 5 at +107; 11.2% is steady at +105; 11.4% protein through 11.8% is up 2 at +107; 12% protein is steady at +105; 12.2% protein through 12.4% is steady at +105; 12.6% through 12.8% protein is steady at +100; 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. Algeria purchased 510,000 metric tons of wheat, with traders expecting Romanian and Russian Baltic to be the sources.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 61 cents under the MIAX Minneapolis December futures, unchanged from Monday'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 unchanged at +150N; 13.5% proteins are unchanged at +140N; 14% proteins are down 40 at +140; 14.5% proteins are up 20 at +140; 15% proteins are unchanged to up 40 at +150N to +225, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 28 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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