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 3 cent at $4.86. The national average basis for soybeans was 1 cent weaker at 58 cents under the November futures, while the DTN National Soybean Index was down 17 cent at $12.46. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 67 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 11 cents at $7.16. The national average basis for hard red spring (HRS) wheat was steady at 60 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 11 cents at $6.82.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.86	-$0.03	-$0.42	Dec	$0.002
Soybeans:	$12.46	-$0.17	-$0.58	Nov	-$0.007
SRW Wheat:	$6.43	-$0.13	-$0.71	Dec	$0.002
HRW Wheat:	$7.16	-$0.11	-$0.67	Dec	$0.001
HRS Wheat:	$6.82	-$0.11	-$0.60	Dec	$0.003

CORN:

The national average corn basis for Friday was 42 cents under the December futures, unchanged from Thursday's basis. PNW basis is not bid until Dec. and 2 cents weaker at +130Z and CIF is 7 cents stronger at +73Z. Track St. Louis for September is steady at -29. Processors for September are mixed with Cedar Rapids, Iowa, steady at -22Z; Fort Dodge, Iowa, is steady at -45Z; Council Bluffs, Iowa, is steady at -32Z; Des Moines, Iowa, is steady at +40Z; Decatur, Illinois, is 5 cents stronger at -15Z; MT. Vernon, Indiana is steady at -10Z; 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 steady 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 Friday was 58 cents under the November futures, 1 cent weaker than Thursday's basis. PNW basis for last period (LP) September is steady at +160X; CIF basis for LH September is steady at +85X and track St. Louis for September is steady at -17X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, steady at -15X; St. Paul, Minnesota, is steady at -75X and basis on the Illinois River at Havana, Illinois, is 3 cents stronger at -30X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 25 is steady at +75X and balance of Sept. is 15 cents stronger at option the X; Des Moines, Iowa, is 30 cents stronger at +70X by Sept. 26 and -30X after; Cedar Rapids, Iowa, for Sept. is steady 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. 25 is 35 cents stronger +85X 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 15 cents stronger at +10X for Sept.. BN secondary shuttle freight for returns is not bid or offered, LH Sep is bid plus $500 over against offers of plus $1100 over and October is bid plus $800 over against offers of plus $1300 over. UP secondary shuttle freight for returns is bid plus $400 over against no offers, LH September is bid plus $400 over against no offers and Oct. is bid plus $300 over against offers of plus $900 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 71 cents under the December futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 67 cents under the Kansas City December futures, 1 cent stronger than Thursday's basis. Spot premiums are steady with ordinary protein steady at +92; 11% steady at +107; 11.2% through 11.8% is steady at +107; 12% 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 steady at +115; 13.6% is up 8 at +115 and 13.8% protein and 14% protein is steady 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.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 60 cents under the MIAX Minneapolis December unchanged from 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 unchanged at +135; 13% proteins are not quoted; 13.5% proteins are not quoted; 14% proteins are down 24 to unchanged at +136 to +180; 14.5% proteins are unchanged at +120; 15% proteins are down 25 to unchanged at +150 to +185, and 16% proteins are not quoted. Wheat receipts on the exchange floor were 57 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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