DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 26 cents under the September futures contract, while the DTN National Corn Index was down 9 cents at $4.22. The national average basis for soybeans was steady at 42 cents under the November futures, and the DTN National Soybean Index was down 1 cent at $11.41. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 57 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $6.63. The national average basis for hard red spring (HRS) wheat was steady at 43 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was down 4 cents at $6.26.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.22 | -$0.09 | -$0.26 | Sep | $0.002 |
| Soybeans: | $11.41 | -$0.01 | -$0.42 | Nov | $0.005 |
| SRW Wheat: | $5.91 | $0.00 | -$0.62 | Sep | -$0.004 |
| HRW Wheat: | $6.63 | $0.00 | -$0.57 | Sep | $0.003 |
| HRS Wheat: | $6.26 | -$0.04 | -$0.43 | Sep | $0.001 |
CORN:
The national average corn basis for Thursday was 26 cents under the September futures, 1 cent stronger than Wednesday's basis. PNW basis for LH August is at +115U; LH Sep basis is 6 cents stronger at +128U and August CIF is steady at +96U. Track St. Louis for August is 4 cents weaker at +18U. Processors for August are mixed with Cedar Rapids, Iowa, is steady at -12U; Fort Dodge, Iowa, is steady at -25U; Council Bluffs, Iowa, is 1 cent stronger at -11U; Des Moines, Iowa, is steady at -18U; Decatur, Illinois, is steady at +15U; Mitchell, South Dakota, is steady at -44U; Blair, Nebraska, is steady at -8U; Hastings, Nebraska, is steady at -20U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is steady at -20U; Columbus, Nebraska, is steady at -8U; Tharaldson Ethanol Casselton, North Dakota is steady at -50U; Blue Flint, North Dakota is steady at -60U; St. Paul, Minnesota, is steady at -60U; and Marshall, Minnesota, is unchanged at -40U.
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SOYBEAN:
The national average soybean basis for Thursday was 42 cents under the November futures, unchanged from Wednesday's basis. PNW basis for last period September is 5 cents weaker at +170X; CIF basis for August is 1 cent weaker at +101X and track St. Louis for August is steady at +20X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at +25X; August St. Paul, Minnesota, is steady at -65X and basis on the Illinois River at Havana, Illinois, is steady at -9X. Processors for August are mixed with Council Bluffs, Iowa, steady at +40X; Des Moines, Iowa, is at steady at +5X; Cedar Rapids, Iowa, is steady at +5X; Sioux City is 10 cents stronger at +70X; Decatur, Illinois, is steady at +35X; Spiritwood, North Dakota, is 10 cents weaker steady at option the X; NDSP Casselton, North Dakota is 5 cents weaker at +5X; Hastings, Nebraska, is steady at option the X; Lincoln, Nebraska, is steady at +50X; Grand Island, Nebraska, is steady at -60X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is 10 cents stronger at +50X; Volga, South Dakota, is steady at +20X, and Mankato, Minnesota, is steady at +15X. BN secondary shuttle freight for returns is bid plus $300 over against no offers, August is bid plus $300 over against no offers, FH September is bid plus $300 against no offers and O,N,D is bid plus $800 over against offers of plus $1,000 over. UP secondary shuttle freight for returns is bid even money against no offers, LH August is bid even money against no offers and O,N,D is bid plus $300 over against no offers.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 62 cents under the September futures, 1 cent weaker than Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 57 cents under the Kansas City September futures, 1 cent stronger than Wednesday's basis. Spot premiums are steady with ordinary protein steady at +100; 11% protein through 11.6% is steady at +105; 11.8% protein through 12.4% is down 8 at +107; 12.6% through 12.8% proteins are down 5 at +110; 13% through 13.4% proteins are unchanged at +111;13.6% protein is steady at +120; 13.8% protein is steady at +125; 14% protein is steady at +125. Gulf track bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is up 5 cents at +140, while Texas Gulf basis for 11% protein is steady at +135.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 43 cents under the MIAX Minneapolis September 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 SEPTEMBER MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are not quoted; 13.5% proteins are unchanged at +130N; 14% proteins are unchanged at +125N to +140N; 14.5% proteins are unchanged at +130N; 15% proteins are down 20 to unchanged at +130 to +200 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 6 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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