DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 14 cents under the September futures contract while the DTN National Corn Index was down 3 cents at $3.92. The national average basis for soybeans was 2 cents stronger at 51 cents under the November futures contract, while the DTN National Soybean Index was up 2 cents at $9.76. The national average basis for hard red winter (HRW) wheat was 17 cents stronger at 52 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 21 cents at $4.79. NOTE: There will be no HRS index or basis at this time.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.92	-$0.03	-$0.14	Sep	$0.002
Soybeans:	$9.76	$0.02	-$0.51	Nov	$0.019
SRW Wheat:	$4.94	$0.12	-$0.55	Sep	$0.015
HRW Wheat:	$4.79	$0.21	-$0.52	Sep	$0.167

CORN:

The national average corn basis for Tuesday was 14 cents under the September futures, unchanged from Monday's basis. PNW basis is steady at +130U and Hereford, Texas, is 5 cents stronger at +120U. CIF basis is 10 cents stronger at +84U and track St. Louis is 9 cents stronger at +40U. Processors are mixed with Cedar Rapids, Iowa, at -3U; Fort Dodge, Iowa, is at -8U; Council Bluffs, Iowa, is steady at +15U; Decatur, Illinois, is steady at +11U; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is steady at +15U; Hastings, Nebraska, is steady at -13U; Lincoln, Nebraska, is steady at -10U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is 3 cents stronger at +5U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Tuesday was 51 cents under the November futures, 2 cents stronger than Monday's basis. PNW basis for October is 5 cents weaker at +100X. July CIF basis is 2 cents stronger at +75N and track St. Louis is at +25Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 10 cents stronger at -15X; St. Paul, Minnesota, is steady at -40Q and basis on the Illinois River at Havana, Illinois, is 2 cents stronger at +8N. Processors are mixed and not all moved to X yet. Council Bluffs, Iowa, is steady at -25X; Cedar Rapids, Iowa, is steady at -25X; Sioux City is steady at -5X; Decatur, Illinois, is steady at +20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is steady at -65X; Hastings, Nebraska, is steady at -72X; Lincoln, Nebraska, is 15 cents stronger at -20X; Aberdeen, South Dakota, is steady at -50X; Mitchell, South Dakota, is steady at -72N; and Mankato, Minnesota, is 10 cents stronger at -15X. BN secondary shuttle freight for returns is bid plus $25 over against no offers, FH July is bid minus $50 under against no offers and LH July is bid plus $50 over against offers of plus 200 over. UP secondary freight for returns is bid minus $150 under against no offers, while FH July is no bid against offers of bid minus $50 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 55 cents under the September futures, 1 cent stronger than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 69 cents under the Kansas City September futures, 17 cents stronger than Monday's basis. Spot premiums were mixed with ordinary protein through 11.2% steady at +90;11.4% is up 10 at 100; 11.6% through 11.8% is up 10 at +100; 12% through 12.4% is steady at +100; 12.6 through 12.8% was steady at +90; 13% is steady at +75; 13.2% is at +85; 13.4% is steady at +92;13.6% is steady at +95; 13.8% is up 5 at +110 and 14% was at +177. Gulf bid for spot 11% protein was steady at +90 with no protein bumps. June PNW 11.5% was steady at +125, while the June Texas Gulf basis for 11% was steady at +115.

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

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