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 unchanged 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 4 cents at $11.62. The national average basis for hard red winter (HRW) wheat was steady at 64 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 3 cents at $5.81. The national average basis for hard red spring (HRS) wheat was 4 cents stronger at 44 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 8 at $5.84.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.14	$0.00	-$0.38	Dec	$0.005
Soybeans:	$11.62	-$0.04	-$0.58	Nov	$0.005
SRW Wheat:	$5.37	$0.04	-$0.67	Dec	-$0.007
HRW Wheat:	$5.81	$0.03	-$0.64	Dec	$0.005
HRS Wheat:	$5.84	$0.08	-$0.40	Dec	$0.036

CORN:

The national average corn basis for Thursday was 38 cents under the December futures, unchanged from Wednesday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 2 cents stronger at +85Z. Track St. Louis is 3 cents stronger at +19Z. 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 stronger at option the Z; 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 steady 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 steady at +10Z; Richardton, North Dakota, is steady at -50Z; Blue Flint, North Dakota, is steady at -50Z; Casselton, North Dakota, is steady at -65; St. Paul, Minnesota, is steady at -55Z; and Marshall, Minnesota, is steady at -60Z.

SOYBEAN:

The national average soybean basis for Thursday was 58 cents under the November futures, unchanged from Wednesday's basis. PNW basis for FH Nov. is steady at +150X; CIF basis is steady at +108X and track St. Louis is steady 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 steady at -10X. Processors are mixed with Council Bluffs, Iowa, 5 cents weaker at -55X; 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 15 cents weaker at -25X; Decatur, Illinois, is steady at +6F; Spiritwood, North Dakota, is steady at -35X; NDSP Casselton, North Dakota, is steady at -38X; Hastings, Nebraska, is steady at -50X; Lincoln, Nebraska, is steady at -40X; Grand Island, Nebraska, is at -100F; 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 steady at +11X and Mankato, Minnesota, is at -10F. 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 Thursday was 67 cents under the December futures, 1 cent weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 64 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were steady to higher, with ordinary protein up 5 at +105; 11% through 11.2% protein is steady at +105; 11.4% is up 22 at +132; 11.6 protein is up 8 at +135; 11.8% is up 5 at +135; 12% through 12.2% protein is up 10 at +135; 12.4% protein through 12.6% is up 7 at +127; 12.8% is up 2 at +127; 13% protein through 13.6% protein is steady at +130 and 13.8% protein through 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 40 cents under the MIAX Minneapolis December, 4 cents stronger than 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 down 40 at +160; 13.5% proteins are unchanged at +200N; 14% proteins are up 30 to unchanged at +210; 14.5% proteins are unchanged at +170N; 15% proteins are unchanged at +180N to +240 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 6 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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