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 7 cents at $4.95. 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 3 cents at $12.68. 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 13 cents at $7.14. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 59 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 9 cents at $677.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.95	-$0.07	-$0.42	Dec	-$0.003
Soybeans:	$12.68	-$0.03	-$0.58	Nov	-$0.002
SRW Wheat:	$6.46	-$0.09	-$0.71	Dec	$0.001
HRW Wheat:	$7.14	-$0.13	-$0.67	Dec	$0.002
HRS Wheat:	$6.77	-$0.09	-$0.59	Dec	$0.007

CORN:

The national average corn basis for Tuesday was 42 cents under the December futures, unchanged from Monday's basis. PNW basis is not bid until Dec. and is steady at +130Z and CIF is 6 cents weaker at +67Z. Track St. Louis for September is steady at -30. Processors for September are mixed with Cedar Rapids, Iowa, 13 cents stronger at -5Z; Fort Dodge, Iowa, is 4 cents stronger at -40Z; Council Bluffs, Iowa, is steadyat -30Z; Des Moines, Iowa, is steady at +40Z; Decatur, Illinois, is steady at -15Z; MT. Vernon, Indiana is steady at -10Z; Mitchell, South Dakota, is steady at -60Z; Blair, Nebraska, is 3 cents stronger at -15Z; Hastings, Nebraska, is steady at -33Z; Lincoln, Nebraska, is 10 cents stronger at -35Z; Garden City, Kansas, is steady at +5Z; Columbus, Nebraska, is steady at -20Z; Marion, Ohio, is 10 cents stronger at +30Z; 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 58 cents under the November futures, 1 cent weaker than Monday's basis. PNW basis for last period (LP) September is steady at +160X; CIF basis for LH September is 2 cents stronger at +87X 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 steady at -30X. Processors for September are mixed with Council Bluffs, Iowa, by Sept. 26 is steady at +85X and balance of Sept. is steady at option the X; Des Moines, Iowa, is 30 cents stronger at +70X by Sept. 26 and -30X after; Cedar Rapids, Iowa, by Sept. 26 is 105 cents stronger at +75X; Sioux City, Iowa is steady at +100X by Sept. 25 and -15X after; Decatur, Illinois for Sept. 16 to Oct. 10 is 10 cents stronger at -10X; Spiritwood, North Dakota, is 15 cents stronger by Sept.26 at -30X; 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 steady +85X and balance Sept. is at option the X; Grand Island, Nebraska, is steady at -65X; Freemont, Nebraska is at +85X by Sept. 25 and balance Sept. is at option the X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is steady at -35X; Volga, South Dakota, 40 cents stronger by Sept. 25 at -15X, Sidney, Ohio, is steady at +40X by Sept.18 and Mankato, Minnesota, is 20 cents stronger at +50X for September. BN secondary shuttle freight for returns is not bid or offered, Sept. 25 to Oct.5 is not bid against offers of plus $800 over, FH Oct. is not bid against offers of +$800 over and October is bid plus $500 over against offers of plus $1000 over. UP secondary shuttle freight for returns is not bid against offers of plus $700 over, LH September is bid plus $500 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 Tuesday was 71 cents under the December futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 67 cents under the Kansas City December futures, 1 cent stronger than Monday's basis. Spot premiums are steady to lower with ordinary protein steady at +92; 11% steady at +107; 11.2% through 11.4% is down 12 at +95; 11.6 protein through 11.8 is down 7 at +100; 12% protein through 12.4% is down 5 at +100; 12.6% through 12.8% protein is steady at +103; 13% protein is steady 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 +125, while Texas Gulf basis for 11% protein is steady at +160. Pakistan is back tendering for 185,000 metric tons tender after buying 365,000 mt last week.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 59 cents under the MIAX Minneapolis December 1 cent stronger than 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 at +135; 13% proteins are not quoted; 13.5% proteins are up 20 to down 20 at 130; 14% proteins are up 15 to down 10 at +140 to +160; 14.5% proteins are not quoted; 15% proteins are down 10 at +130 to +160, 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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