DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 41 cents under the May futures contract, while the DTN National Corn Index was unchanged at $4.26. The national average basis for soybeans was steady at 75 cents under the May futures, while the DTN National Soybean Index was up 2 cents at $10.99. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 71 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was up 9 cents at $5.55. The national average basis for hard red spring (HRS) wheat was steady at 41 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was up 4 cents at $6.04.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.26 | $0.00 | -$0.41 | May | $0.000 |
| Soybeans: | $10.99 | $0.02 | -$0.75 | May | -$0.001 |
| SRW Wheat: | $5.52 | $0.08 | -$0.53 | May | $0.008 |
| HRW Wheat: | $5.55 | $0.09 | -$0.71 | May | $0.003 |
| HRS Wheat: | $6.04 | $0.04 | -$0.41 | May | $0.001 |
CORN:
The national average corn basis for Thursday was 41 cents under the May futures, unchanged from Wednesday's basis. PNW basis for May is steady at +105K and CIF is 5 cents stronger at +85K. March track St. Louis is 10 cents stronger at +32K. Processors are mixed with Cedar Rapids, Iowa, steady at -20K; Fort Dodge, Iowa, is steady at -40K; Council Bluffs, Iowa, is 2 cents stronger at -14K; Des Moines, Iowa, is 3 cents stronger at -26K; Decatur, Illinois, is steady at -8K; Mitchell, South Dakota, is 3 cents weaker at -66K; Blair, Nebraska, is 2 cents weaker at -22K; Hastings, Nebraska, is steady at -50K; Lincoln, Nebraska, is steady at -40K; Garden City, Kansas, is steady at -40K; Columbus, Nebraska, is steady at -30K; St. Paul, Minnesota, is -50K; and Marshall, Minnesota, is steady at -40K.
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SOYBEAN:
The national average soybean basis for Thursday was 75 cents under the May futures, unchanged from Wednesday's basis. PNW basis bid for LH March is steady at +70K. March CIF basis is steady at +60K and track St. Louis is steady at +8K for FH April. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -30K; St. Paul, Minnesota, is steady at -90K and basis on the Illinois River at Havana, Illinois, is steady at -30K. Processors are steady with Council Bluffs, Iowa, steady at -55K; Des Moines, Iowa, is steady at -50K; Cedar Rapids, Iowa, is 5 cents stronger at -25K; Sioux City is steady at -50K; Decatur, Illinois, is steady at option the K; Volga, South Dakota, is steady at -72K; Spiritwood, North Dakota, is steady at -55K; NDSP Casselton, North Dakota is steady at -60K; Hastings, Nebraska, is steady at -90K; Lincoln, Nebraska, is steady at -55K; Aberdeen, South Dakota, is steady at -95K; Mitchell, South Dakota, is steady at -62K; and Mankato, Minnesota, is steady at -45K.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 53 cents under the May futures, 1 cent stronger than Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 71 cents under the Kansas City May futures, 1 cent stronger than Wednesday's basis. Spot premiums were unchanged with ordinary protein steady at +115; 11% through 11.4 steady at +127; 11.6% through 12.4% is steady at +136; 12.6 through 12.8% are steady at +126; 13.0% is up 3 at +129;13.2% is steady at +129; 13.4% through 14% was steady at +130. Gulf bid for spot 11% protein is steady at +115 with no protein bumps. PNW 11.5% is steady at +115, while Texas Gulf basis for 11% is steady at +130.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 41 cents under the MIAX Minneapolis May futures, unchanged from Wednesday's basis. The MIAX Futures Exchange LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the May MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are not quoted; 13.5% proteins are at +90B; 14% proteins are down 15 to unchanged at +110N to +125N; 14.5% proteins are unchanged at +150N; 15% proteins are unchanged at +200 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 14 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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