DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 2 cents stronger at 35 cents under the September futures contract, while the DTN National Corn Index was unchanged at $3.87. The national average basis for soybeans was unchanged at 56 cents under the August futures, while the DTN National Soybean Index was unchanged at $10.80. The national average basis for hard red winter (HRW) wheat was 3 cents stronger at 62 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 8 cents at $5.57. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 60 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was down 9 cents at $5.45.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.87	$0.00	-$0.35	Sep	$0.024
Soybeans:	$10.80	$0.00	-$0.56	Aug	$0.004
SRW Wheat:	$5.30	-$0.10	-$0.60	Sep	$0.017
HRW Wheat:	$5.57	-$0.08	-$0.62	Sep	$0.028
HRS Wheat:	$5.45	-$0.09	-$0.60	Sep	$0.012

CORN:

The national average corn basis for Friday was 35 cents under the September futures, 2 cents stronger than Thursday basis. PNW basis for June moved to U at +120U and CIF is steady at +81N. Track St. Louis is steady at +30N. Processors are mixed as plants move to U. Cedar Rapids, Iowa, is steady at -2N; Fort Dodge, Iowa, is steady at -21N; Council Bluffs, Iowa, is steady at option the N; Des Moines, Iowa, is steady at -17N; Decatur, Illinois, is 3 cents stronger at +20N; Mitchell, South Dakota, is steady at -51N; Blair, Nebraska, is steady at option the N; Hastings, Nebraska, is steady at -32U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is 25 cents stronger at -25N; Columbus, Nebraska, is steady at -7N; St. Paul, Minnesota, is steady at -45N; and Marshall, Minnesota, is steady at -35N.

SOYBEAN:

The national average soybean basis for Friday was 56 cents under the August futures unchanged from Thursday basis. PNW basis for LH September is steady at +150X and October is steady at +155X; CIF basis is steady at +76N and track St. Louis is steady at +25N. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +25N; St. Paul, Minnesota, is steady at -48N and basis on the Illinois River at Havana, Illinois, is 1 cent stronger at option the N. Processors are mixed with bids starting to move to Q. Council Bluffs, Iowa, is at -5Q; Des Moines, Iowa, is steady at -5N; Cedar Rapids, Iowa, is steady at option the N; Sioux City is steady at +5N; Decatur, Illinois, is steady at +35N; Volga, South Dakota, is steady at -28Q; Spiritwood, North Dakota, is at -5Q; NDSP Casselton, North Dakota is at -15Q; Hastings, Nebraska, is at -63Q; Lincoln, Nebraska, is at +10Q; Grand Island, Nebraska, is steady at +65Q; Aberdeen, South Dakota, is at -70Q; Mitchell, South Dakota, is at -8Q; and Mankato, Minnesota, is 5 cents stronger +5Q. BN secondary shuttle freight for returns is not bid or offered, July is bid minus $150 under against offers of even money and August is bid minus $100 under against offers of even money. UP secondary freight for returns is not bid or offered, July is not bid against offers of minus $100 under and August is not bid against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 60 cents under the September futures, 2 cents stronger than Thursday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 62 cents under the Kansas City September futures, 3 cents stronger than Thursday basis. Spot premiums are mixed with ordinary protein steady at +100; 11% through 11.4% are steady at +128; 11.6 through 11.8% proteins are up 12 at +140; 12% through 12.4% proteins are steady at +138; 12.6% through 12.8% proteins are steady at +131; 13 through 13.6% proteins are steady at +138; 13.8 through 14% are steady at +133. Gulf track bid for spot 11% protein is steady at +110 with no protein bumps. PNW 11.5% is steady at +115, while Texas Gulf basis for 11% is steady at +145.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 60 cents under the MIAX Minneapolis September futures, 1 stronger than Thursday 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 are not quoted; 13% proteins are not quoted; 13.5% proteins are not quoted; 14% proteins are up 20 at +130; 14.5% proteins are not quoted; 15% proteins are up 40 to unchanged +240 to +260 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 16 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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