DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 15 cents under the September futures contract while the DTN National Corn Index was up 3 cents at $3.76. The national average basis for soybeans was 2 cents stronger at 54 cents under the November futures contract, while the DTN National Soybean Index was down 12 cents at $9.42. The national average basis for hard red winter (HRW) wheat was 4 cents stronger at 53 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 7 cents at $4.69. The national average basis for hard red spring (HRS) wheat was steady at 48 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $5.30.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.76	$0.03	-$0.15	Sep	$0.001
Soybeans:	$9.42	-$0.12	-$0.54	Nov	$0.013
SRW Wheat:	$4.68	-$0.05	-$0.56	Sep	$0.005
HRW Wheat:	$4.69	$0.07	-$0.53	Sep	$0.039
HRS Wheat:	$5.30	$0.00	-$0.48	Sep	$0.001

CORN:

The national average corn basis for Wednesday was 15 cents under the September futures, unchanged from Tuesday's basis. PNW basis is steady at +135U and Hereford, Texas, is steady at +110U. CIF basis is steady at +90U and track St. Louis is steady at +32U. Processors are mixed with Cedar Rapids, Iowa, steady at +2U; Fort Dodge, Iowa, is 2 cents stronger at -10U; Council Bluffs, Iowa, is steady at +4U; Decatur, Illinois, is steady at +16U; Mitchell, South Dakota, is steady at -24U; Blair, Nebraska, is steady at -2U; Hastings, Nebraska, is steady at 10U; Lincoln, Nebraska, is steady at -5U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is steady at +8U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Wednesday was 54 cents under the November futures, 2 cents weaker than Tuesday's basis. PNW basis for October is not quoted. July CIF basis is steady at +91Q and track St. Louis is steady at +25Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -5X; St. Paul, Minnesota, is steady at -36Q and basis on the Illinois River at Havana, Illinois, is 1 cent weaker at -4Q. Processors are mixed with Council Bluffs, Iowa, steady at -30X; Cedar Rapids, Iowa, is 5 cents weaker at -15X; Sioux City is steady at -10X; Decatur, Illinois, is steady at -20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is 3 cents weaker at -68X; Hastings, Nebraska, is steady at -70X; Lincoln, Nebraska, is steady at -20X; Aberdeen, South Dakota, is 10 cents weaker at -55X; Mitchell, South Dakota, is 5 cents stronger at -41Q; and Mankato, Minnesota, is 10 cents weaker at -30X. BN secondary shuttle freight for returns is bid even money over against offers of plus $200 over, FH August is bid even money against offers of plus $100 over and LH August is even money against offers of plus $100 over. UP secondary freight for returns is bid minus $150 under against offers of even money, and August is bid minus $150 under against offers of minus $100 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 56 cents under the September futures, 1 cent stronger than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was at 53 cents under the Kansas City September futures, 4 cents stronger than Tuesday's basis. Spot premiums were mixed and with some premiums sharply lower as month end is here and flour mills doing their usual thing. Ordinary protein through 11.6% down 12 at +65; 11.8% was down 13 at +65; 12% through 12.2% is down 10 at +65; 12.4% is down 15 at +65; 12.6% is down 25 at +65; 12.8% was steady at +90; 13% is steady at +95; 13.2% through 13.8% is steady at +105 and 14% was steady at +177. Gulf bid for spot 11% protein was steady at +90 with no protein bumps. June PNW 11.5% was down 5 at +120, while the June Texas Gulf basis for 11% was up 5 at +105. USDA this morning reported that private exporters sold 100,000 metric tons of hard red winter wheat for delivery to Nigeria during the 2025/2026 marketing year.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was at 48 cents under the MIAX Minneapolis September futures, unchanged from Tuesday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows basis the September MIAX spring wheat futures: 12% proteins were not quoted; 13% proteins are not quoted; 13.5 proteins were down 30 to down 79 at +30; 14 proteins were up 10 to up 30 at +100B to +135; 14.5% proteins were up 30 to down 45 at +145 to +150; 15% proteins were unchanged at +260, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 60 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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