DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 37 cents under the December futures contract, while the DTN National Corn Index was up 1 at $4.11. The national average basis for soybeans was 5 cents stronger at 65 cents under the January futures, while the DTN National Soybean Index was down 12 cents at $11.52. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 63 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 3 cents at $5.83. The national average basis for hard red spring (HRS) wheat was 5 cents stronger at 35 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 7 cents at $5.91.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.11	$0.01	-$0.37	Dec	$0.008
Soybeans:	$11.52	-$0.12	-$0.65	Jan	$0.054
SRW Wheat:	$5.43	$0.05	-$0.64	Dec	$0.023
HRW Wheat:	$5.83	$0.03	-$0.63	Dec	$0.011
HRS Wheat:	$5.91	$0.07	-$0.35	Dec	$0.050

CORN:

The national average corn basis for Monday was 37 cents under the December futures, 1 cent stronger than Friday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 7 cents stronger at +92Z. Track St. Louis is 9 states stronger at +28Z. Processors are mixed with Cedar Rapids, Iowa, is steady at -18Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -25Z; Des Moines, Iowa, is steady at -35Z; Clinton, Iowa is 6 cents stronger at -12Z; Decatur, Illinois, is steady at option the Z by Nov. 8; MT. Vernon, Indiana, is 2 cents stronger at +7Z; 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 -50Z; Fremont, Nebraska, is steady at -50Z; Grand Island, Nebraska, is steady at -28Z; Siouxland Ethanol, Jackson Nebraska, is at -40Z; Garden City, Kansas, is steady at +10Z; Columbus, Nebraska, is steady at -20Z; 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 -52Z.

SOYBEAN:

The national average soybean basis for Monday was 65 cents under the November futures, 5 cents stronger than Friday's basis. PNW basis for FH Nov. is steady at +140F; CIF basis is steady at +102F and track St. Louis is at +30F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -8X; St. Paul, Minnesota, is steady at -55X and basis on the Illinois River at Havana, Illinois, is steady at -12X. Processors are mixed and moving to Jan.(F)with Council Bluffs, Iowa, at --45F; Des Moines, Iowa, is at -35F; Cedar Rapids, Iowa, is at -20F; Sioux City, Iowa, is steady at --15F; Iowa Falls, Iowa, is at -20F; Decatur, Illinois, is steady at +6F; Spiritwood, North Dakota, is steady at -35F; NDSP Casselton, North Dakota, is at -35F; Hastings, Nebraska, is at -50F; Lincoln, Nebraska, is at --8F; Grand Island, Nebraska, is at -100F; Freemont, Nebraska, is steady at -5X; Norfolk Crush, Nebraska, is at -30F; Aberdeen, South Dakota, is at -60F; Mitchell, South Dakota, is steady at -30X; Volga, South Dakota, is steady at -60F; Sidney, Ohio, is at-10F, MT. Vernon, Indiana, is 1 cent weaker at +6F and Mankato, Minnesota, is steady at -10F. BN secondary shuttle freight for returns is not bid or offered, Nov. is bid minus $400 under against offers of even money and Dec. is bid minus $200 under against offers of plus $100. UP secondary shuttle freight for returns is not bid or offered, Nov. is not bid against offers of even money and Dec. is not bid against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 64 cents under the December futures, 2 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 63 cents under the Kansas City December futures, 1 cent stronger than Friday's basis. Spot premiums were steady to higher, with ordinary protein steady at +105; 11% through 11.2% protein is steady at +105; 11.4% is steady at +132; 11.6 protein through 11.8% is steady at +140; 12% through 12.2% protein is steady at +137; 12.4% protein through 12.8% is steady 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 down 15 at +145. Talk in the market that China may have purchased SRW wheat barges on Friday for J,F,M but no amount discussed yet. Jordan is tendering for 120,000 metric tons of milling wheat after they purchased 1 cargo last week.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 35 cents under the MIAX Minneapolis December, 5 cents 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 up 10 to down 10 at +170; 13.5% proteins are unchanged at +165N; 14% proteins are unchanged at +210; 14.5% proteins are unchanged at +170N; 15% proteins are unchanged at +160N to +240 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 21 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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