DTN Daily Basis Comments
Friday Morning Basis Comments
The national average basis for corn was steady at 8 cents under the September futures contract and the DTN National Corn Index was up 2 cents at $3.98. The national average basis for soybeans was 3 cents stronger at 42 cents under the August futures contract, while the DTN National Soybean Index was up 8 cents at $10.74. The national average basis for hard red winter (HRW) wheat was steady at 47 cents under the September futures contract, and the DTN National Hard Red Winter Wheat Index down 6 cents at $5.15. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 50 cents under the September futures contract, while the DTN National Hard Red Spring Wheat Index was down 7 cents at $5.54.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $3.98 | $0.02 | -$0.08 | Sep | $0.001 |
| Soybeans: | $10.74 | $0.08 | -$0.42 | Aug | $0.034 |
| SRW Wheat: | $4.79 | -$0.09 | -$0.59 | Sep | $0.004 |
| HRW Wheat: | $5.15 | -$0.06 | -$0.47 | Sep | $0.001 |
| HRS Wheat: | $5.54 | -$0.07 | -$0.50 | Sep | $0.003 |
CORN:
The national average corn basis for Thursday was 8 cents under the September futures, unchanged from Wednesday's basis. PNW basis for August is 10 cents weaker at +135U, and Hereford, Texas, is 10 cents weaker at +130U. CIF NOLA is 3 cents weaker at +69U, and track St. Louis is 5 cents weaker at +30U. Processors are mixed with Cedar Rapids, Iowa, steady at +22U; Fort Dodge, Iowa, is steady at +22U; Council Bluffs, Iowa, is steady at +25U; Decatur, Illinois, is 2 cents stronger at +20U; Mitchell, South Dakota, is steady at -23U; Blair, Nebraska, is steady at +30U; Hastings, Nebraska, is 5 cents weaker at +17U; Lincoln, Nebraska, is steady at +10U; Garden City, Kansas, is steady at +60U; Columbus, Nebraska, is steady at +50U; and Marshall, Minnesota, is steady at +5U.
SOYBEANS:
The national average soybean basis for Thursday was 42 cents under the August futures, 3 cents stronger than Wednesday's basis. PNW bid for last-half September is steady at +140X. CIF NOLA basis for July is 3 cents weaker at +80Q, and track St. Louis is 2 cents weaker at +38Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents weaker at +27Q; St. Paul, Minnesota, river bid is steady at -30Q; and basis on the Illinois River at Havana, Illinois, is steady at +18Q. Processors are mixed with Council Bluffs, Iowa, 5 cents weaker at +40X; Cedar Rapids, Iowa, is 10 cents weaker at +35X; Sioux City is 10 cents weaker at +15X; Decatur, Illinois, is 5 cents weaker at +35X; Volga, South Dakota, at -60X; Spiritwood, North Dakota, is 10 cents weaker at -70X; Hastings, Nebraska, is steady at +30X; Lincoln, Nebraska, is steady at +25X; Aberdeen, South Dakota, is 15 cents weaker at -70X; Mitchell, South Dakota, is steady at -50X; and Mankato, Minnesota, is steady at option the Q. BN secondary shuttle freight for returns is not bid plus or offered, July is bid plus $400 over against no offers and August is bid plus $250 over against offers of $500 over. UP secondary freight for returns is not bid or offered, July is bid even money against offers of plus $100 over and August is bid even money against offers of plus $100 over.
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SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 59 cents under the September futures, unchanged from Wednesday's Thursday basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 47 cents under the Kansas City September futures, unchanged from Wednesday's basis. The KC spot milling cash premiums were steady to lower as mills have been getting their fill recently in the to arrive market. Ordinary protein through 11.2% protein is down 10 cents +105; 11% is unchanged at +115; 11.4% is steady at +115; 11.6% was down 5 cents at +115; 11.8% was down 2 cents at +120; 12% protein was down 7 cents at +118; 12.2% through 12.4% was down 5 cents at +120; 12.6% through 12.8% was down 2 cents at +115; 13% through 13.8% was steady at +120 and 14% was steady at +115. The track Gulf bid for 11% protein was steady for July at +110 with no protein bumps and August is steady at +115. PNW 11.5% was steady at +90, while the Texas Gulf basis for 11% was steady at +125.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 50 cents under the Minneapolis September futures, 1 cent stronger than Wednesday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis September futures: 12% proteins were not quoted; 13% proteins were not quoted; 13.5% proteins were unchanged at +160N; 14% proteins were down 30 cents to unchanged +140* to +170; 14.5% proteins were unchanged at +170; 15% proteins were down 10 cents to down 35 at +290 and 16% proteins were unchanged at +325N. Wheat receipts on the exchange floor were 52 cars, which included one 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.
Final results from the Wheat Quality Council spring wheat and durum tour: https://www.dtnpf.com/…
Mary Kennedy can be reached at mary.kennedy@dtn.com
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