DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 2 cents weaker at 17 cents under the September futures contract while the DTN National Corn Index was down 6 cents at $3.73. The national average basis for soybeans was 1 cent stronger at 54 cents under the November futures contract, while the DTN National Soybean Index was up 1 cent at $9.35. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 53 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 6 cents at $4.66. The national average basis for hard red spring (HRS) wheat was 5 cents stronger at 43 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:	$3.73	-$0.06	-$0.17	Sep	-$0.015
Soybeans:	$9.35	$0.01	-$0.54	Nov	$0.006
SRW Wheat:	$4.62	-$0.07	-$0.54	Sep	-$0.002
HRW Wheat:	$4.66	-$0.06	-$0.53	Sep	$0.019
HRS Wheat:	$5.30	$0.00	-$0.43	Sep	$0.052

CORN:

The national average corn basis for Friday was 17 cents under the September futures, 2 cents weaker than Thursday's basis. PNW basis is steady at +135U and Hereford, Texas, is steady at +105U. CIF basis is steady at +80U and track St. Louis is steady at +18U. Processors are mixed with Cedar Rapids, Iowa, is 2 cents stronger at +2U; Fort Dodge, Iowa, is 2 cents weaker at -11U; Council Bluffs, Iowa, is 1 cent weaker at +2U; Decatur, Illinois, is steady at +16U; Mitchell, South Dakota, is steady at -24U; Blair, Nebraska, is 2 cents stronger at option the U; Hastings, Nebraska, is steady at 10U; Lincoln, Nebraska, is 5 cents weaker at -10U; 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 Friday was 54 cents under the November futures, 1 cent stronger than Thursday's basis. PNW basis for October is not quoted. August CIF basis is steady at +91Q and track St. Louis is 1 cent stronger at +25Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at option the X; St. Paul, Minnesota, is at -63X and basis on the Illinois River at Havana, Illinois, is 4 cents stronger at -1Q. Processors are mixed with Council Bluffs, Iowa, 5 cents weaker at -35X; Cedar Rapids, Iowa, is steady at -20X; Sioux City is steady at -10X; Decatur, Illinois, is steady at -20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is 5 cents weaker at -63X; Hastings, Nebraska, is steady at -70X; Lincoln, Nebraska, is steady at -20X; Aberdeen, South Dakota, is steady at -65X; Mitchell, South Dakota, is at -40Q; and Mankato, Minnesota, is steady at -40X.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was at 53 cents under the Kansas City September futures, 2 cents stronger than Thursday's basis. Spot premiums were steady with ordinary protein through 11.6% steady at +65; 11.8% was steady at +65; 12% through 12.2% through 12.6% is steady at +75; 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 steady at +120, while the June Texas Gulf basis for 11% was steady at +110.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was at 43 cents under the MIAX Minneapolis September futures, 5 cents stronger than Thursday'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 not quoted; 14 proteins were down 20 to down 5 at +95 to +110*; 14.5% proteins were unchanged at +115; 15% proteins were unchanged at +260, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 66 cars, which includes 2 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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