DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 39 cents under the December futures contract, while the DTN National Corn Index was down 7 cents at $4.28. The national average basis for soybeans was steady at 60 cents under the November futures, while the DTN National Soybean Index was down 8 cents at $11.94. The national average basis for hard red winter (HRW) wheat was steady at 65 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 5 cents at $6.34. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 48 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 6 cents at $6.22.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.28	-$0.07	-$0.39	Dec	$0.003
Soybeans:	$11.94	-$0.08	-$0.60	Nov	$0.001
SRW Wheat:	$5.88	-$0.05	-$0.67	Dec	$0.003
HRW Wheat:	$6.34	-$0.05	-$0.65	Dec	-$0.003
HRS Wheat:	$6.22	-$0.06	-$0.48	Dec	$0.009

CORN:

The national average corn basis for Monday was 39 cents under the December futures, unchanged from Friday's basis. PNW basis is 5 cents weaker for FH Dec. at +110Z and CIF is steady at +83Z. Track St. Louis for is steady at -5Z. Processors are mixed with Cedar Rapids, Iowa, is steady at -23Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 5 cents stronger at -20Z by Oct. 23; Des Moines, Iowa, is steady at -35Z; Decatur, Illinois, is steady at -5Z; MT. Vernon, Indiana, is 10 cents stronger at +15Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady -25Z; Hastings, Nebraska, is steady at -25Z; Lincoln, Nebraska, is steady at -35Z; Fremont, Nebraska, is 5 cents weaker at -45Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is 5 cents weaker at option the Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is steady at -60Z; Casselton, North Dakota, is 15 cents weaker at -60Z; St. Paul, Minnesota, is steady at -65Z; and Marshall, Minnesota, is steady at -60Z.

SOYBEAN:

The national average soybean basis for Monday was 60 cents under the November futures, unchanged from Friday's basis. PNW basis is bid FH Nov. at +145X; CIF basis is 7 cents stronger at +92X and track St. Louis is 1 cent stronger at +10X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -22X; St. Paul, Minnesota, is steady at -62X and basis on the Illinois River at Havana, Illinois, is steady -35X. Processors are mixed with Council Bluffs, Iowa, steady at -50X; Des Moines, Iowa, steady at -40Z; Cedar Rapids, Iowa, is -steady at -50X; Sioux City, Iowa is steady at -45X; Iowa Falls, Iowa is steady at -45X; Decatur, Illinois is steady at +10X; Spiritwood, North Dakota, has a bid now for Oct. at -60X and steady at -40X; NDSP Casselton, North Dakota is steady at -35X; Hastings, Nebraska, is 5 cents stronger at -50X; Lincoln, Nebraska is steady at -40X; Grand Island, Nebraska, is steady at -85X; Freemont, Nebraska is steady at -30X; Norfolk Crush, Nebraska, is 10 cents weaker at -50X; Aberdeen, South Dakota, is steady at -60X; Mitchell, South Dakota, is steady at -30X; Volga, South Dakota, is steady at -55X; Sidney, Ohio, is steady at-20X, MT. Vernon, Indiana is steady at -10X and Mankato, Minnesota, is steady at -25X. BN secondary shuttle freight for returns is bid even money against no offers, and LH Oct. is bid even money against offers of plus $100 over. UP secondary shuttle freight for returns is not bid or offered, and Oct. is not bid against offers of plus $100 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 67 cents under the December futures, 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 65 cents under the Kansas City December futures, unchanged from Friday's basis. Spot premiums pushed higher for most proteins with ordinary protein up 3 at +100; 11% through 11.2% protein is steady at +105; 11.4% is steady at +110; 11.6 protein is steady at +133Z; 11.8% through 12.4% protein is steady+125; 12.6% protein through 12.8% is steady at +125; 13% protein is steady at +125; 13.2% protein through 14% protein is steady at +125. Gulf track bid for spot 11% protein is steady at +110 with no protein bumps. PNW 11.5% is down 20 at +95, while Texas Gulf basis for 11% protein is steady at +160.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 48 cents under the MIAX Minneapolis December, 1 cent stronger than Friday'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 not at +170; 13.5% proteins are not quoted; 14% proteins are down 10 to up 40 at +140 to +200; 14.5% proteins are unchanged at +150N; 15% proteins are unchanged at +160N to +230N and 16% proteins are unchanged at +150N. Wheat receipts on the exchange floor were 13 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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