DTN Daily Basis Comments
Thursday Morning Basis Comments
The national average basis for corn was 1 cent stronger at 24 cents under the May futures contract and the DTN National Corn Index was down 4 cents at $4.08. The national average basis for soybeans was unchanged at 57 cents under the May futures contract, while the DTN National Soybean Index was down 10 cents at $11.42. The national average basis for hard red winter (HRW) wheat was unchanged at 47 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was down 12 cents at $5.30. The national average basis for hard red spring (HRS) wheat was unchanged at 21 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was down 12 cents at $6.26.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.08 | -$0.04 | -$0.24 | May | $0.008 |
| Soybeans: | $11.42 | -$0.10 | -$0.57 | May | $0.004 |
| SRW Wheat: | $4.90 | -$0.11 | -$0.53 | May | $0.002 |
| HRW Wheat: | $5.30 | -$0.12 | -$0.47 | May | -$0.002 |
| HRS Wheat: | $6.26 | -$0.12 | -$0.21 | May | $0.000 |
CORN:
The national average corn basis for Tuesday was 24 cents under the May futures, 1 cent stronger than Monday's basis. PNW basis is 5 cents stronger at +155 for March, April is steady at +150K and Hereford, Texas, is 10 cents stronger at +140K for last-half March. CIF NOLA for March is 1 cent weaker at +48K and track St. Louis for March is 2 cents stronger at +17K. Processors are mixed with Cedar Rapids, Iowa, is 6 cents stronger at +25K; Fort Dodge, Iowa, is 3 cents stronger at +4K; Council Bluffs, Iowa, is 5 cents stronger at +10K; Decatur, Illinois, is steady at -2K; Mitchell, South Dakota, is steady at -38K; Blair, Nebraska, is steady at +18K; Hastings, Nebraska, is steady at -15K; Lincoln, Nebraska, is steady at -15K; Garden City, Kansas, is steady at +15K; Columbus, Nebraska, is 3 cents stronger at +15K; and Marshall, Minnesota, is 4 cents stronger at -13K.
SOYBEANS:
The national average soybean basis for Tuesday was 57 cents under the May futures, unchanged from Monday's basis. PNW new-crop bid is steady at +125X, while CIF NOLA basis for March is 1 cent weaker at +53K and track St. Louis for March is 4 cents weaker at +17K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady 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, steady at -10K; Sioux City is steady at -30K; Decatur, Illinois, is steady at option the May; 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 and March is not bid or offered and April is bid plus $400 over against offers of plus $600 over. UP secondary freight for returns and March are bid and April is bid even money against offers of plus $400 over.
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SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Tuesday was 53 cents under the May futures, unchanged from Monday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Tuesday was 47 cents under the Kansas City May futures, unchanged from Monday's basis. The KC spot milling cash premiums were steady with no cars reported sold. Ordinary protein was steady at +127;11 through 11.2% was steady at +130; 11.4% through 12.2% is steady at +145; 12.4% through 14% protein was steady at +150. Offers for 11% protein at the Texas Gulf are steady at +155 and PNW 11.5% is 10 cents weaker at +140, 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 Tuesday was 21 cents under the Minneapolis May futures, unchanged from Monday'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 down 5 cents to unchanged at +140 to +170N; 14.5% proteins were not quoted; 15% proteins were up 50 cents to up 10 cents at +260 and 16 proteins were not quoted. Wheat receipts on the exchange floor were zero 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.
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