DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 35 cents under the December futures contract, while the DTN National Corn Index was up 2 cents at $4.09. The national average basis for soybeans was 1 cent stronger at 63 cents under the January futures, while the DTN National Soybean Index was down 11 cents at $11.39. 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 3 cents at $5.70. The national average basis for hard red spring (HRS) wheat was 2 cents stronger at 33 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.84.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.09	$0.02	-$0.35	Dec	$0.004
Soybeans:	$11.39	-$0.11	-$0.63	Jan	$0.008
SRW Wheat:	$5.35	-$0.01	-$0.63	Dec	$0.003
HRW Wheat:	$5.70	-$0.03	-$0.63	Dec	$0.001
HRS Wheat:	$5.84	-$0.01	-$0.33	Dec	$0.018

CORN:

The national average corn basis for Wednesday was 35 cents under the December futures, 1 cent stronger than Tuesday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is steady at +94Z. Track St. Louis is steady at +26Z. Processors are mixed with Cedar Rapids, Iowa, is steady at -18Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is 5 cents stronger at -20Z by Nov.15; 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 3 cents stronger at +10Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady at -18Z; Hastings, Nebraska (ethanol plant), is steady at -10Z; Lincoln, Nebraska, is steady 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 steady 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 -55; St. Paul, Minnesota, is steady at -55Z; and Marshall, Minnesota, is steady at -45Z.

SOYBEAN:

The national average soybean basis for Wednesday was 63 cents under the November futures, 1 cent stronger than Tuesday's basis. PNW basis for FH Nov. is steady at +140F; CIF basis is steady at +105F and track St. Louis is steady at +35F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is at -10F; St. Paul, Minnesota, is 5 cents stronger at -50X and basis on the Illinois River at Havana, Illinois, is at option the F. Processors are mixed with Council Bluffs, Iowa, steady at -40F; Des Moines, Iowa, is steady 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; Grand Island, Nebraska, is at -100F; Freemont, Nebraska, is steady at option the F; 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 not bid or offered, FH Nov. is bid minus $200 under against offers of even money and FH Dec. is bid minus $200 under against offers of plus $100. 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 Wednesday was 63 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 63 cents under the Kansas City December futures, unchanged from Tuesday's basis. Spot premiums were mix, with ordinary protein up 5 at +110; 11% through 11.2% protein is steady 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 down 7 at +130; 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 Wednesday was 33 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 unchanged at +170N; 13.5% proteins are unchanged at +175N; 14% proteins are down 50 to unchanged at +160 to +210; 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 49 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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