DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 34 cents under the December futures contract, while the DTN National Corn Index was down 4 cents at $4.06. The national average basis for soybeans was 1 cent stronger at 62 cents under the January futures, while the DTN National Soybean Index was down 13 cents at $11.27. 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 up 3 cents at $5.73. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 32 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 4 cents at $5.88.
DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.06 | -$0.04 | -$0.34 | Dec | $0.006 |
| Soybeans: | $11.27 | -$0.13 | -$0.62 | Jan | $0.012 |
| SRW Wheat: | $5.36 | $0.01 | -$0.63 | Dec | $0.004 |
| HRW Wheat: | $5.73 | $0.03 | -$0.63 | Dec | -$0.005 |
| HRS Wheat: | $5.88 | $0.04 | -$0.32 | Dec | $0.011 |
CORN:
The national average corn basis for Thursday was 34 cents under the December futures, 1 cent stronger than Wednesday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 3 cents weaker at +91Z. Track St. Louis is steady at +26Z. Processors are mixed with Cedar Rapids, Iowa, is 4 cents stronger at -14Z; 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 steady at +10Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is steady at -15Z; Hastings, Nebraska (ethanol plant), is steady at -10Z; Lincoln, Nebraska, is 5 cents stronger at -40Z; Fremont, Nebraska, is steady at -50Z; Grand Island, Nebraska, is 3 cents stronger at -25Z; Siouxland Ethanol, Jackson Nebraska, is at -40Z; Garden City, Kansas, is steady at +10Z for OC and -20Z for NC; 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 5 cents stronger at -50Z; and Marshall, Minnesota, is steady at -45Z.
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SOYBEAN:
The national average soybean basis for Thursday was 62 cents under the November futures, 1 cent stronger than Wednesday'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 4 cents stronger at -6F; St. Paul, Minnesota, is steady 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 8 cents stronger at -12F; Sioux City, Iowa, is steady at -15F; Iowa Falls, Iowa, is at -20F; Decatur, Illinois, is 2 cents stronger at +8F by Nov. 15; 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 10 cents weaker at -10F; 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 7 cents stronger at +13F and Mankato, Minnesota, is steady at -10F. BN secondary shuttle freight for returns is not bid or offered, FH Nov. is bid minus $250 under against offers of even money, LH Nov. is not bid against offers of minus $100 under and FH Dec. is bid minus $200 under against offers of even money. UP secondary shuttle freight for returns is bid minus $400 under against offers of minus $100 under, FH Nov. is not bid against offers of even money and LH Nov. is not against offers of even money.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 63 cents under the December futures, unchanged from Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 63 cents under the Kansas City December futures, unchanged from Wednesday's basis. Spot premiums were mixed again, with ordinary protein up 5 at +110; 11% protein through 11.4% is down 5 at +130; 11.6% protein through 11.8% is down 10 at +130; 12% through 12.2% protein is up 5 at +135; 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 Thursday was 32 cents under the MIAX Minneapolis December, 1 cent 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 unchanged at +170N; 13.5% proteins are down 5 at +170; 14% proteins are unchanged at +160N to +210N; 14.5% proteins are not quoted; 15% proteins are not quoted 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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