DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 41 cents under the May futures contract, while the DTN National Corn Index was down 7 cents at $4.15. The national average basis for soybeans was steady at 74 cents under the May futures, while the DTN National Soybean Index was unchanged at $10.86. The national average basis for hard red winter (HRW) wheat was steady at 71 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was down 6 cents at $5.55. The national average basis for hard red spring (HRS) wheat was 6 cents stronger at 36 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was up 10 cents at $6.16.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.15	-$0.07	-$0.41	May	-$0.005
Soybeans:	$10.86	$0.00	-$0.74	May	-$0.002
SRW Wheat:	$5.55	$0.03	-$0.52	May	$0.009
HRW Wheat:	$5.55	-$0.06	-$0.71	May	$0.004
HRS Wheat:	$6.16	$0.10	-$0.36	May	$0.065

CORN:

The national average corn basis for Monday was 41 cents under the May futures, 1 cent weaker than Friday's basis. . PNW basis for May is 5 cents stronger at +110K and CIF is 2 cents stronger at +87K. March track St. Louis is steady at +32K. Processors are mixed with Cedar Rapids, Iowa, 4 cents stronger at -16K; Fort Dodge, Iowa, is steady at -40K; Council Bluffs, Iowa, is 4 cents weaker at -18K; Des Moines, Iowa, is steady at -26K; Decatur, Illinois, is steady at -8K; Mitchell, South Dakota, is steady at -66K; Blair, Nebraska, is steady 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.

SOYBEAN:

The national average soybean basis for Monday was 74 cents under the May futures, unchanged from Friday's basis. PNW basis bid for LH March is 10 cents stronger at +80K. March CIF basis is 1 cent stronger at +71K 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 5 cents stronger at -25K; St. Paul, Minnesota, is 10 cents stronger at -45K and basis on the Illinois River at Havana, Illinois, is steady at -30K. Processors are mixed with Council Bluffs, Iowa, steady at -55K; Des Moines, Iowa, is steady at -50K; Cedar Rapids, Iowa, is steady at -25K; Sioux City is 5 cents stronger at -45K; 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 5 cents stronger at -50K; 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. BN secondary shuttle freight for returns is bid plus $700 over against no offers and April is bid plus $500 over against offers of plus $1200 over. UP secondary freight for returns is bid plus $350 over against no offers and April is bid plus $150 over against offers of plus $600 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 52 cents under the May futures 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 71 cents under the Kansas City May futures, unchanged from Friday's basis. Spot premiums were weaker again as mills have enough for now and month end is here. Ordinary protein steady at +115; 11% through 11.4 down 5 at +115; 11.6% through 12.8% is down 10 at +115; 13.0% down 15 at +115; 13.2% 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. Crop progress reports for the week ending March 29 show Kansas good to excellent at 40% down 6% from prior week, Oklahoma G/E at 13% down 1% and Colorado G/E at 14% down 10%.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 36 cents under the MIAX Minneapolis May futures, 6 cents stronger than Friday'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 unchanged at +90N; 13.5% proteins were not quoted; 14% proteins are down 15 to unchanged at +110= to +125; 14.5% proteins are unchanged at +150N; 15% proteins are unchanged to up 10 at +200 to +210 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 31 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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