DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 25 cents under the May futures contract and the DTN National Corn Index was down 1 cent at $4.14. The national average basis for soybeans was unchanged at 57 cents under the May futures contract, while the DTN National Soybean Index was down 20 cents at $11.55. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 46 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was up 9 cents at $5.44. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 20 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was up 5 cents at $6.41.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.14	-$0.01	-$0.25	May	$0.006
Soybeans:	$11.35	-$0.20	-$0.57	May	-$0.002
SRW Wheat:	$5.00	$0.08	-$0.54	May	$0.000
HRW Wheat:	$5.44	$0.09	-$0.46	May	$0.002
HRS Wheat:	$6.41	$0.05	-$0.20	May	$0.008

CORN:

The national average corn basis for Friday was 25 cents under the May futures, 1 cent stronger than Thursday's basis. PNW basis is steady at +150 for last-half March, April is steady at +145K and Hereford, Texas, is steady at +130K for last-half March. CIF NOLA for March is steady at +49K and track St. Louis for March is steady at +15K. Processors are mixed with Cedar Rapids, Iowa, steady at +15K; Fort Dodge, Iowa, is steady at -3K; Council Bluffs, Iowa, is steady at +5K; Decatur, Illinois, is steady at -2K; Mitchell, South Dakota, is steady at -38K; Blair, Nebraska, is steady at +14K; Hastings, Nebraska, is steady at -15K; Lincoln, Nebraska, is steady at -15K; Garden City, Kansas, is steady at +15K; Columbus, Nebraska, is steady at +12K; and Marshall, Minnesota, is steady at -17K.

SOYBEANS:

The national average soybean basis for Friday was 57 cents under the May futures, unchanged from Thursday's basis. PNW new-crop bid is steady at +125X, while CIF NOLA basis for March is 2 cents weaker at +54K and track St. Louis for March is 2 cents weaker at +21K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 1 cent weaker at +10K, basis on the Illinois River at Havana, Illinois, is steady at -3K and St. Paul, Minnesota, is steady at +23K. Processors are mixed with Council Bluffs, Iowa, is 5 cents stronger at -15K; Cedar Rapids, Iowa, is steady at -5K; Sioux City is at -30K; Decatur, Illinois, is steady at +8K; Volga, South Dakota, is steady at -50K; Spiritwood, North Dakota, is steady at -42K; Hastings, Nebraska, is steady at -85K; Lincoln, Nebraska, is steady at -26K; Aberdeen, South Dakota, is steady at -85K; Mitchell, South Dakota, is steady at -94K; and Mankato, Minnesota, is steady at -10K. BN secondary shuttle freight for returns is bid $1500 against no offers and March is bid plus $1500 over against no offers. UP secondary freight for returns is bid plus $600 over against no offers and March is bid even money against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 54 cents under the May futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 46 cents under the Kansas City May futures, 1 cent stronger than Thursday's basis. The KC spot milling cash premiums were unchanged with no cars reported sold. Ordinary protein was steady at +127;11 through 11.2% was steady at +130; 11.4% was up 10 cents at +145; 11.6% through 11.8% was steady at +145; 12% through 12.2% was steady at +147, 12.4% through 12.8% steady at +150; 13% through 14% protein was steady at +150. Offers for 11% protein at the Texas Gulf are steady at +155 and PNW 11.5% is steady at +150, while the track Gulf basis bid for March is steady at +150 and no bump for higher protein.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 20 cents under the Minneapolis May futures, 1 cent stronger than Thursday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis May futures: 12% proteins were not quoted; 13% proteins were unchanged at +110N; 13.5% proteins were not quoted; 14% proteins were unchanged at +135B to +170; 14.5% proteins were unchanged at +160N; 15% proteins were unchanged at +210N to +250N and 16 proteins were not quoted. Wheat receipts on the exchange floor were 19 cars, which included zero train(s)*. Bid (B), Ask(A), Nominal(N). MGEX Daily Grain Prices are Delivered Chicago/Beyond freight: Spot No. 1 Milling Northern/Dark Northern Spring Wheat.

Mary Kennedy can be reached at mary.kennedy@dtn.com.

Follow her on X, formerly known as Twitter, @MaryCKenn.

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