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 up 3 cents at $4.14. The national average basis for soybeans was steady at 58 cents under the November futures, while the DTN National Soybean Index was down 5 cents at $11.66. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 64 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 7 cents at $5.79. The national average basis for hard red spring (HRS) wheat was 2 cents stronger at 44 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 7 at $5.76.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.14	$0.03	-$0.38	Dec	$0.003
Soybeans:	$11.66	-$0.05	-$0.58	Nov	-$0.002
SRW Wheat:	$5.33	-$0.11	-$0.66	Dec	$0.005
HRW Wheat:	$5.79	-$0.07	-$0.64	Dec	$0.004
HRS Wheat:	$5.76	-$0.07	-$0.44	Dec	$0.020

CORN:

The national average corn basis for Wednesday was 38 cents under the December futures, unchanged from Tuesday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 1 cent weaker at +83Z. Track St. Louis is 6 cents stronger at +16Z. Processors are mixed with Cedar Rapids, Iowa, is steady at -21Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -25Z; Des Moines, Iowa, is steady at -35Z; Clinton, Iowa is steady at -18Z by Oct. 25; Decatur, Illinois, is steady at option the Z by Nov. 8; MT. Vernon, Indiana, is 3 cents weaker at -3; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady at -18Z; Hastings, Nebraska (ethanol plant), is steady at -22Z; Lincoln, Nebraska, is steady at -45Z; Fremont, Nebraska, is 5 cents weaker at -50Z; Grand Island, Nebraska is steady at +30; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is steady at -32Z; Marion, Ohio, is 10 cents stronger at +10Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is steady at -50Z; Casselton, North Dakota, is 10 cents weaker at -65; St. Paul, Minnesota, is steady at -55Z; and Marshall, Minnesota, is steady at -60Z.

SOYBEAN:

The national average soybean basis for Wednesday was 58 cents under the November futures, unchanged from Tuesday's basis. PNW basis for FH Nov. is 5 cents stronger at +150X; CIF basis is 1 cent weaker at +108X and track St. Louis is 2 cents stronger at +40X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -28X; St. Paul, Minnesota, is 7 cents stronger at -55X and basis on the Illinois River at Havana, Illinois, is 3 cents stronger -10X. Processors are mixed with Council Bluffs, Iowa, steady at -50X; Des Moines, Iowa, is steady at -50Z; Cedar Rapids, Iowa, is steady at -45X; Sioux City, Iowa is steady at -45X; Iowa Falls, Iowa is steady at -10X by Oct. 29.; Decatur, Illinois is steady at +10X; Spiritwood, North Dakota, is steady at -35X; NDSP Casselton, North Dakota, is 3 cents weaker at -38X; Hastings, Nebraska, is steady at -50X; Lincoln, Nebraska, is 5 cents stronger at -40X; Grand Island, Nebraska, is 10 cents weaker at -100X; 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 5 cents weaker at +11X and Mankato, Minnesota, is 10 cents stronger at -10X. BN secondary shuttle freight for returns is not bid or offered, FH Nov. is not bid against offers of plus $100 over and LH Nov is not bid against offers of plus $100. UP secondary shuttle freight for returns is not bid or offered, FH Nov. is not bid against offers of plus $50 over and LH Nov. is not bid against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 66 cents under the December futures, 1 cent stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 64 cents under the Kansas City December futures, 1 cent stronger than Tuesday'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 12.2% protein is steady at +125;12.6% is down 5 at +120; 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 Wednesday was 44 cents under the MIAX Minneapolis December, 2 cents stronger than Tuesday'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 +200; 13.5% proteins are up 40 to down 10 at +200; 14% proteins are unchanged at +180N to +210; 14.5% proteins are up 10 at +170; 15% proteins are up 20 to unchanged at +180 to +240 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 24 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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