DTN Daily Basis Comments
Monday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 38 cents under the December futures contract, while the DTN National Corn Index was down 4 cents at $4.18. The national average basis for soybeans was steady at 59 cents under the November futures, while the DTN National Soybean Index was up 3 cents at $11.97. 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 1 cent at $6.00. 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 unchanged at $5.95.
DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.18 | -$0.04 | -$0.38 | Dec | $0.005 |
| Soybeans: | $11.97 | $0.03 | -$0.59 | Nov | -$0.003 |
| SRW Wheat: | $5.58 | $0.01 | -$0.67 | Dec | $0.007 |
| HRW Wheat: | $6.00 | -$0.01 | -$0.65 | Dec | $0.005 |
| HRS Wheat: | $5.95 | $0.00 | -$0.47 | Dec | $0.004 |
CORN:
The national average corn basis for Friday was 38 cents under the December futures, 1 cent stronger than Thursday'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 10 cents stronger at -25Z; Des Moines, Iowa, is 5 cents weaker at -40Z; Clinton, Iowa is steady at -18Z by Oct. 25; Decatur, Illinois, is 5 cents stronger at option the Z by Nov. 8; MT. Vernon, Indiana, is steady at +2Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady -25Z; Hastings, Nebraska (ethanol plant), is steady at -22Z; Lincoln, Nebraska, is 5 cents weaker at -40Z; Fremont, Nebraska, is steady at -45Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is 2 cents weaker at -32Z; Marion, Ohio, is steady at option the Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is steady at -50Z; Tharaldson, North Dakota, is steady at -55Z; St. Paul, Minnesota, is steady at -65Z; and Marshall, Minnesota, is 5 cents stronger at -60Z.
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SOYBEAN:
The national average soybean basis for Friday was 59 cents under the November futures, unchanged from Thursday's basis. PNW basis is bid FH Nov. at +145X; CIF basis is 1 cents stronger at +110X and track St. Louis is 3 cents stronger at +33X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 4 cents weaker at -22X; St. Paul, Minnesota, is steady at -62X and basis on the Illinois River at Havana, Illinois, is 2 cents stronger -20X. 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 5 cents stronger at +10X; 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 2 cents stronger at +14X and Mankato, Minnesota, is steady at -20X. BN secondary shuttle freight for returns is bid plus $200 over against no offers, FH Nov. is bid +200 over against no offers and LH Nov is not bid against offers of plus $400. UP secondary shuttle freight for returns is not bid or offered, FH Nov. is bid minus $200 under against no offers and LH Nov. is not bid against offers of plus $100 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 67 cents under the December futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 65 cents under the Kansas City December futures, unchanged from Thursday's basis. Spot premiums were steady as farmer selling has slowed, 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 steady 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 Friday was 47 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 not quoted; 13% proteins are not quoted; 13.5% proteins are at +160*; 14% proteins are unchanged at +180 to +200; 14.5% proteins are unchanged at +135N; 15% proteins are down 40 to unchanged at +160 to +230 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 50 cars, which includes one 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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