DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 42 cents under the December futures contract, while the DTN National Corn Index was down 1 cent at $4.92. The national average basis for soybeans was 1 cent weaker at 57 cents under the November futures, while the DTN National Soybean Index was up 1 cent at $12.64. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $7.32. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 60 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 8 cents at $6.96.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.92	-$0.01	-$0.42	Dec	$0.003
Soybeans:	$12.64	$0.01	-$0.57	Nov	-$0.011
SRW Wheat:	$6.59	$0.02	-$0.72	Dec	-$0.003
HRW Wheat:	$7.32	$0.04	-$0.68	Dec	$0.004
HRS Wheat:	$6.96	$0.08	-$0.60	Dec	$0.006

CORN:

The national average corn basis for Wednesday was 42 cents under the December futures, unchanged from Tuesday's basis. PNW basis is not bid until Dec. and steady at +132Z and CIF is 2 cents weaker at +77Z. Track St. Louis for September is steady at -29. Processors for September are mixed with Cedar Rapids, Iowa, 2 cents weaker at -16Z; 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 steady 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 5 cents stronger at +20Z; 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 Wednesday was 57 cents under the November futures, 1 cent weaker than Tuesday's basis. PNW basis for last period (LP) September is steady at +160X; CIF basis for LH September is 9 cents weaker at +87X 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 5 cents weaker at -80X and basis on the Illinois River at Havana, Illinois, is 2 cents weaker at -30X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 19 is steady at +75X and balance of Sept. steady at -15X; Des Moines, Iowa, is 30 cents weaker at +40X by Sept. 19 and 10 cents weaker -30X after; Cedar Rapids, Iowa, for Sept. is 8 cents weaker at -30X; Sioux City, Iowa is steady 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 by Sept. 22 is +50X and balance Sept. is 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 $500 over against no offers, LH Sep is bid plus $500 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 $500 over against no offers, LH September (Mexico option) is bid plus $600 over against no offers and Oct. (Mexico option) is bid plus $600 over against no offers.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 68 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums are steady to higher with ordinary protein steady at +92; 11% steady at +107; 11.2% is steady at +105; 11.4% protein through 11.8% is steady 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% protein is up 5 at +105; 13.2% proteins is up 15 at +115; 13.4% protein is up 10 at +115; 13.6% is up 8 at +115 and 13.8% protein and 14% protein is up 7 at +115. 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. Talk is Algeria may have purchased up to 600,000 mt versus 510,000 reported yesterday.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 60 cents under the MIAX Minneapolis December futures 1 cent stronger than Tuesday'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 not quoted; 14% proteins are down 40 at +180; 14.5% proteins are down 20 to up 5 at +120 to +135; 15% proteins are unchanged to down 55 at +150N to +170, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 44 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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