DTN Daily 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 1 cent at $4.17. The national average basis for soybeans was steady at 59 cents under the November futures, while the DTN National Soybean Index was down 15 cents at $11.82. 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 $5.94. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 46 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 7 at $5.88.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.17	-$0.01	-$0.38	Dec	-$0.002
Soybeans:	$11.82	-$0.15	-$0.59	Nov	$0.002
SRW Wheat:	$5.49	-$0.09	-$0.67	Dec	$0.001
HRW Wheat:	$5.94	-$0.05	-$0.65	Dec	$0.002
HRS Wheat:	$5.88	-$0.07	-$0.46	Dec	$0.003

CORN:

The national average corn basis for Monday was 38 cents under the December futures, unchanged from Friday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 1 cent weaker at +84Z. Track St. Louis for is steady at +10Z. Processors are mixed with Cedar Rapids, Iowa, is 2 cents stronger at -21Z; 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 steady at option the Z by Nov. 8; MT. Vernon, Indiana, is 1 cent weaker at +1Z; 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 -45Z; Fremont, Nebraska, is 5 cents weaker at -50Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, steady 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 steady at -60Z.

SOYBEAN:

The national average soybean basis for Monday was 59 cents under the November futures, unchanged from Friday's basis. PNW basis is bid FH Nov. at +145X; CIF basis is 1 cent weaker at +109X and track St. Louis is 2 cents stronger at +35X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 10 cents weaker at -32X; St. Paul, Minnesota, is steady at -62X and basis on the Illinois River at Havana, Illinois, is steady -20X. Processors are mixed with Council Bluffs, Iowa, steady at -50X; Des Moines, Iowa, 10 cents weaker at -50Z; Cedar Rapids, Iowa, is steady at -60X; Sioux City, Iowa is steady at -45X; Iowa Falls, Iowa is steady at -25X for Nov.; Decatur, Illinois is steady at +10X; Spiritwood, North Dakota, is 20 cents stronger at -40X; NDSP Casselton, North Dakota is 5 cents stronger at -35X; 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 +16X 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 offers of plus $300 over and LH Nov is not bid against offers of plus $250. UP secondary shuttle freight for returns is not bid or offered, and Nov. is not bid against offers of plus $50 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 67 cents under the December futures, unchanged from 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 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 Monday was 46 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 quoted; 13.5% proteins are unchanged to up 40 at +160N to +200; 14% proteins are unchanged up 10 at +180 to +210; 14.5% proteins are unchanged at +135N; 15% proteins are unchanged to up 10 at +160N to +240 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 16 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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