DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 33 cents under the December futures contract, while the DTN National Corn Index was up 9 cents at $4.16. The national average basis for soybeans was steady at 60 cents under the January futures, while the DTN National Soybean Index was up 40 cents at $11.68. 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 2 cents at $5.71. The national average basis for hard red spring (HRS) wheat was steady at 32 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 7 cents at $5.97.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.16	$0.10	-$0.33	Dec	$0.006
Soybeans:	$11.68	$0.40	-$0.60	Jan	$0.006
SRW Wheat:	$5.30	$0.04	-$0.63	Dec	-$0.005
HRW Wheat:	$5.71	$0.02	-$0.63	Dec	$0.002
HRS Wheat:	$5.97	$0.07	-$0.32	Dec	$0.001

CORN:

The national average corn basis for Tuesday was 33 cents under the December futures, 1 cent stronger than Monday's basis. PNW basis is steady for FH Dec. at +110Z and CIF is 1 cent stronger at +94Z. Track St. Louis is 1 cent weaker at +25Z. Processors are mixed with Cedar Rapids, Iowa, is steady at -5Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -15Z by Nov. 15; Des Moines, Iowa, is steady at -35Z; Clinton, Iowa, is steady at -3Z by Nov. 15; Decatur, Illinois, is steady at +15Z; MT. Vernon, Indiana, is 2 cents stronger at +15 Z; Mitchell, South Dakota, is steady at -45Z; Blair, Nebraska, is 2 cents weaker at -17Z; Hastings, Nebraska (ethanol plant), is steady at -10Z; Lincoln, Nebraska, is steady at -40Z; Fremont, Nebraska, is steady at -50Z; Grand Island, Nebraska, is steady at -25Z; Siouxland Ethanol, Jackson Nebraska, is 2 cents stronger at -34Z; Garden City, Kansas, is steady at +10Z for OC and -20Z for NC; Columbus, Nebraska, is steady at -10Z; Marion, Ohio, is steady at +13Z; 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 -50Z; and Marshall, Minnesota, is steady at -45Z.

SOYBEAN:

The national average soybean basis for Tuesday was 60 cents under the November futures, unchanged from Monday's basis. PNW basis for FH Nov. is steady at +140F; CIF basis is 3 cents weaker at +102F and track St. Louis is 1 cent weaker at +34F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents weaker at -4F; St. Paul, Minnesota, is steady at -50X and basis on the Illinois River at Havana, Illinois, is 10 cents weaker at +5F. Processors are mixed with Council Bluffs, Iowa, steady at -40F; Des Moines, Iowa, is steady at -30F; Cedar Rapids, Iowa, is steady at -20F; Sioux City, Iowa, is steady at -15F; Iowa Falls, Iowa, is at -20F; Decatur, Illinois, is steady at +8F by Nov. 15; Spiritwood, North Dakota, is 5 cents stronger at -30F; NDSP Casselton, North Dakota, is 5 cents stronger at -30F; Hastings, Nebraska, is at -50F; Lincoln, Nebraska, is at -8F; Grand Island, Nebraska, is steady at -100F; Freemont, Nebraska, is steady at -10F; Norfolk Crush, Nebraska, is steady at -30F; Aberdeen, South Dakota, is steady at -45F; Mitchell, South Dakota, is steady at -30X; Volga, South Dakota, is 10 cents stronger at -50F; Sidney, Ohio, is steady at -10F; Mt. Vernon, Indiana, is steady at +20F 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 over. UP secondary shuttle freight for returns is not bid or offered, Nov. is not bid against offers 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 Tuesday was 63 cents under the December futures, 1 cent weaker than 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, with ordinary protein up 5 at +110; 11% protein through 11.4% is steady at +130; 11.6% protein through 11.8% is steady at +140; 12% through 12.2% protein is steady at +135; 12.4% protein through 12.8% is steady at +127; 13% protein is steady at +140; 13.2 through 13.6% protein is steady at +145 and 13.8% protein is steady at +145 and 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 steady at +130, while Texas Gulf basis for 11% protein is down 5 at +140.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 32 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 not quoted; 13.5% proteins are unchanged at +170N; 14% proteins are down 30 to unchanged at +180A to +210; 14.5% proteins are at +185; 15% proteins down 5 to up 20 at +225 to +250 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 34 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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