DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 36 cents under the December futures contract, while the DTN National Corn Index was down 4 cents at $4.07. The national average basis for soybeans was 1 cent stronger at 64 cents under the January futures, while the DTN National Soybean Index was down 2 cents at $11.50. The national average basis for hard red winter (HRW) wheat was steady at 63 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 10 cents at $5.74. The national average basis for hard red spring (HRS) wheat was steady at 35 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 6 cents at $5.85..

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.07	-$0.04	-$0.36	Dec	$0.016
Soybeans:	$11.50	-$0.02	-$0.64	Jan	$0.010
SRW Wheat:	$5.36	-$0.07	-$0.64	Dec	-$0.002
HRW Wheat:	$5.74	-$0.10	-$0.63	Dec	$0.000
HRS Wheat:	$5.85	-$0.06	-$0.35	Dec	-$0.002

CORN:

The national average corn basis for Tuesday was 36 cents under the December futures, 1 cent stronger than Monday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 2 cents stronger at +94Z. Track St. Louis is 2 cents weaker at +26Z. 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 steady at -12Z by Nov. 15; Decatur, Illinois, is 10 cents stronger at +10Z; MT. Vernon, Indiana, is steady at +7Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady at -18Z; Hastings, Nebraska (ethanol plant), is 12 cents stronger at -10Z; Lincoln, Nebraska, is 5 cents stronger at -45Z; 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 5 cents stronger at -15Z; 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 7 cents stronger at -45Z.

SOYBEAN:

The national average soybean basis for Tuesday was 64 cents under the November futures, 1 cent stronger than Monday's basis. PNW basis for FH Dec. is steady at +145F; CIF basis is 3 cents stronger at +105F and track St. Louis is 5 cents stronger at +35F. 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, 5 cents stronger at -40F; Des Moines, Iowa, is 5 cents stronger at -30F; Cedar Rapids, Iowa, is at -20F; Sioux City, Iowa, is steady at -15F by Nov. 15; 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 by Nov. 15; Grand Island, Nebraska, is at -100F; Freemont, Nebraska, is steady at option the F by Nov. 15; Norfolk Crush, Nebraska, is steady at -30F; Aberdeen, South Dakota, is 5 cents stronger at -55F; Mitchell, South Dakota, is steady at -30X; Volga, South Dakota, is steady at -60F; Sidney, Ohio, is at-10F, MT. Vernon, Indiana, is 2 cent stronger at +8F and Mankato, Minnesota, is steady at -10F. BN secondary shuttle freight for returns is bid minus $200 under against no offers, FH Nov. is bid minus $200 under against offers of even money and FH Dec. is bid minus $100 under against offers of even money. UP secondary shuttle freight for returns is not bid or offered, FH Nov. is not bid against offers of even money and LH Nov. is bid minus $400 under against offers of minus $100 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 64 cents under the December futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 63 cents under the Kansas City December futures, unchanged from Monday's basis. Spot premiums were steady to higher, with ordinary protein steady at +105; 11% through 11.2% protein is up 30 at +135; 11.4% is up 3 at +135; 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 up 35 at +130, while Texas Gulf basis for 11% protein is steady at +145.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 35 cents under the MIAX Minneapolis December, unchanged from Monday'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 unchanged at +170N; 13.5% proteins are up 10 at +175; 14% proteins are unchanged at +210N; 14.5% proteins are not quoted; 15% proteins are unchanged at +160N to +240 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 14 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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