DTN Daily Basis Comments
Monday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 27 cents under the September futures contract, while the DTN National Corn Index was up 5 cents at $4.57. The national average basis for soybeans was 1 cent stronger at 38 cents under the November futures, and the DTN National Soybean Index was up 4 cents at $12.01. The national average basis for hard red winter (HRW) wheat was steady at 57 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 6 at $7.00. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 39 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was down 2 cents at $6.59.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.57 | $0.05 | -$0.27 | Sep | $0.000 |
| Soybeans: | $12.01 | $0.04 | -$0.38 | Nov | $0.008 |
| SRW Wheat: | $6.21 | -$0.02 | -$0.60 | Sep | -$0.004 |
| HRW Wheat: | $7.00 | -$0.06 | -$0.57 | Sep | $0.003 |
| HRS Wheat: | $6.59 | -$0.02 | -$0.39 | Sep | $0.010 |
CORN:
The national average corn basis for Friday was 27 cents under the September futures, unchanged from Thursday's basis. PNW basis for LH August is 5 cents stronger at +125U; LH Sep basis is 5 cents stronger at +135U and August CIF is 9 cents weaker at +82U. Track St. Louis for August is 5 cents weaker at +13U. 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 weaker at -13U; Des Moines, Iowa, is steady at -18U; Decatur, Illinois, is steady at +25U; Portland, Indiana is steady at +40U; Mitchell, South Dakota, is steady at -43U; 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 -5U; Marion, Ohio, is steady at +25U; Tharaldson Ethanol Casselton, North Dakota is steady at -50U; Blue Flint, North Dakota is steady at -50U; St. Paul, Minnesota, is steady at -50U; and Marshall, Minnesota, is steady at -42U.
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SOYBEAN:
The national average soybean basis for Friday was 38 cents under the November futures, 1 cent stronger than Thursday's basis. PNW basis for last half September is steady at +170X; CIF basis for August is 6 cents stronger at +104X and track St. Louis for August is steady at +22X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at +35X; St. Paul, Minnesota, is steady at -58X and basis on the Illinois River at Havana, Illinois, is steady at option the X. Processors for August are mixed with Council Bluffs, Iowa, 3 cents weaker at +60X by Sept. 4; Des Moines, Iowa, is at steady at +5X; Cedar Rapids, Iowa, is 10 cents stronger at +15X; Sioux City, Iowa is steady at +70X; Mason City, Iowa is steady at option the X; Decatur, Illinois, is 5 cents stronger at +40X; Spiritwood, North Dakota, is steady at -10X; NDSP Casselton, North Dakota is 20 cents stronger at +30X; Hastings, Nebraska, is steady at option the X; Lincoln, Nebraska, is steady at +20X; Grand Island, Nebraska, is steady at -60X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is 15 cents weaker at +50X; Volga, South Dakota, is steady at +35X, Sidney, Ohio, is steady at +40X and Mankato, Minnesota, is steady at -5U. BN secondary shuttle freight for returns is bid plus $400 over against no offers, August is bid plus $400 over against no offers, September is bid plus $400 against no offers and O,N,D is bid plus $800 over against offers of plus $1000 over. UP secondary shuttle freight for returns is bid plus $100 over against no offers, LH August is bid plus $100 over against no offers and O,N,D is bid plus $250 over against offers of plus $600.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 60 cents under the September futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 57 cents under the Kansas City September futures, unchanged from Thursday's basis. Spot premiums are mixed with ordinary protein steady at +100; 11% protein through 11.8% protein are steady at +100; 12% through 12.4% protein is steady at +107; 12.6% through 12.8% proteins are steady at +107; 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 steady at +140, while Texas Gulf basis for 11% protein is steady at +135.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 39 cents under the MIAX Minneapolis September futures, 1 cent 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 are not quoted; 13% proteins are unchanged at +140N; 13.5% proteins are unchanged at +120N; 14% proteins are unchanged to down 20 at +130 to +135; 14.5% proteins are up 15 to unchanged at +130; 15% proteins are unchanged to up 25 at +175 to +235 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 12 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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