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 3 cents at $4.22. The national average basis for soybeans was steady at 59 cents under the November futures, while the DTN National Soybean Index was up 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 8 cents at $6.01. The national average basis for hard red spring (HRS) wheat was steady at 47 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 10 cents at $5.95.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.22	-$0.03	-$0.39	Dec	$0.001
Soybeans:	$11.94	$0.08	-$0.59	Nov	$0.006
SRW Wheat:	$5.57	-$0.04	-$0.67	Dec	-$0.001
HRW Wheat:	$6.01	-$0.08	-$0.65	Dec	-$0.006
HRS Wheat:	$5.95	-$0.10	-$0.47	Dec	$0.002

CORN:

The national average corn basis for Thursday was 39 cents under the December futures, unchanged from Wednesday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is steady at +85Z. Track St. Louis for is steady at +10Z. 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 -15Z by Oct. 24; Des Moines, Iowa, is steady at -35Z; Clinton, Iowa is steady at -18Z by Oct. 25; Decatur, Illinois, is steady at -5Z by Oct. 25; MT. Vernon, Indiana, is 1 cent stronger at +2Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady -25Z; Hastings, Nebraska, is 10 cents weaker at -35Z; Lincoln, Nebraska, is steady at -35Z; Fremont, Nebraska, is steady at -45Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is steady at -30Z; Marion, Ohio, is steady at option the Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is 10 cents stronger at -50Z; Tharaldson, North Dakota, is steady at -55Z; St. Paul, Minnesota, is steady at -65Z; and Marshall, Minnesota, is steady at -65Z.

SOYBEAN:

The national average soybean basis for Thursday was 59 cents under the November futures, unchanged from Wednesday's basis. PNW basis is bid FH Nov. at +145X; CIF basis is 7 cents stronger at +109X and track St. Louis is 6 cents stronger at +30X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at -18X; St. Paul, Minnesota, is steady at -62X and basis on the Illinois River at Havana, Illinois, is 2 cents weaker -22X. Processors are mixed with Council Bluffs, Iowa, steady at -50X; Des Moines, Iowa, steady at -40Z; Cedar Rapids, Iowa, is steady at -60X; Sioux City, Iowa is steady at -45X; Iowa Falls, Iowa is steady at -25X; Decatur, Illinois is steady at +5X; Spiritwood, North Dakota, is steady at -60X; NDSP Casselton, North Dakota is 5 cents weaker at -40X; Hastings, Nebraska, is steady at -50X; Lincoln, Nebraska, is steady at -40X; Grand Island, Nebraska, is 5 cents weaker at -90X; Freemont, Nebraska, is steady at -30X; Norfolk Crush, Nebraska, is steady 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 7 cents stronger at +12X and Mankato, Minnesota, is steady at -20X. BN secondary shuttle freight for returns is bid plus $300 over against no offers, LH Oct. is bid plus $300 over against no offers and FH Nov. is bid +250 over against offers of plus $400 over. UP secondary shuttle freight for returns is bid minus $200 under against no offers, Oct. is not bid against offers of plus $200 over and Nov. is not bid against offers of plus $100 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 67 cents under the December futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 65 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were mixed with ordinary protein unchanged at +100; 11% through 11.2% protein is steady at +105; 11.4% is steady at +110; 11.6 protein is steady is unchanged at +127; 11.8% is steady at +130; 12% through 12.4% protein is steady +125; 12.6% protein through 12.8% is steady at +125; 13% protein through 13.8% protein is down 10 at +130 and 14% protein is unchanged at +140. Gulf track bid for spot 11% protein is steady at +110 with no protein bumps. PNW 11.5% is unchanged at +95, while Texas Gulf basis for 11% protein is steady at +160.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 47 cents under the MIAX Minneapolis December, unchanged from Wednesday'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 +170N; 13.5% proteins are not quoted; 14% proteins are unchanged at +180N to +200N; 14.5% proteins are unchanged at +135N; 15% proteins are unchanged to up 5 at +200 to +230 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 23 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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