DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 28 cents under the May futures contract and the DTN National Corn Index was unchanged at $4.14. The national average basis for soybeans was 1 cent stronger at 57 cents under the May futures contract, while the DTN National Soybean Index was up 17 cents at $11.39. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 46 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was down 1 cent at $5.51. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 20 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was up 3 cents at $6.52.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.14	$0.00	-$0.28	May	$0.004
Soybeans:	$11.39	$0.17	-$0.57	May	$0.004
SRW Wheat:	$4.95	$0.00	-$0.52	May	-$0.004
HRW Wheat:	$5.51	-$0.01	-$0.46	May	$0.005
HRS Wheat:	$6.52	$0.03	-$0.20	May	$0.006

CORN:

The national average corn basis for Tuesday was 28 cents under the May futures, unchanged from Monday's basis. PNW basis for first-half March is steady at +150K and last half March is steady at +145K for March and Hereford, Texas, is 5 cents weaker at +130K for first-half March. CIF NOLA for March is steady at +48K and track St. Louis for March is steady at +17K. Processors are mixed with Cedar Rapids, Iowa, 4 cents stronger at +12K; Fort Dodge, Iowa, is 14 cents weaker at -6K; Council Bluffs, Iowa, is steady at +5K; Decatur, Illinois, is steady at -2K; Mitchell, South Dakota, is steady at -48K; Blair, Nebraska, is steady at +7K; Hastings, Nebraska, is at -25K; Lincoln, Nebraska, is steady at -20K; Garden City, Kansas, is steady at +15K; Columbus, Nebraska, is steady at +8K; and Marshall, Minnesota, is steady at -17K.

SOYBEANS:

The national average soybean basis for Tuesday was 58 cents under the May, 1 cent stronger than Monday's basis. PNW new-crop bid is steady at +125X, while CIF NOLA basis for March is steady at +56K and track St. Louis for March is steady at +22K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 3 cents weaker at +13K and in St. Paul, Minnesota, river opening bid is +25K. Basis on the Illinois River at Havana, Illinois, is 6 cents stronger at +1K. Processors are mixed with Council Bluffs, Iowa, is 1 cent stronger at -19K; Cedar Rapids, Iowa, is steady at -5K; Sioux City is at -30K; Decatur, Illinois, is steady at +8K; Volga, South Dakota, is 3 cents weaker at -50K; Spiritwood, North Dakota, is steady at -55K; Hastings, Nebraska, is steady at -85K; Lincoln, Nebraska, is at -26K; Aberdeen, South Dakota, is steady at -100K; Mitchell, South Dakota, is steady at -94K; and Mankato, Minnesota, is steady at -10K. BN secondary shuttle freight for returns is not bid or offered and March is bid plus $1300 over against offers of plus $2500 over. UP secondary freight for returns is bid plus $1100 over against offers of plus $1800 over and March is bid plus $500 over against offers of plus $1800 over. Logistic issues still persist, especially in the Northern Plains: https://www.dtnpf.com/…

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 52 cents under the May futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 46 cents under the Kansas City May futures, 1 cent stronger than Monday's basis. The KC spot milling cash premiums basis the May was steady with no cars showing sold. Ordinary protein through 11.4% was steady at +130; 11.6% through 11.8% was steady at +139; 12% through 12.8% was steady at +150; 13% through 14% protein was steady at +160. Offers for 11% protein at the Texas Gulf are steady at +155 and PNW 11.5% is steady at +150, while the track Gulf basis bid for February is steady at +130 and no bump for higher protein.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 20 cents under the Minneapolis May futures, 1 cent stronger than Monday's basis. The Minneapolis spot spring wheat cash premiums closed as follows, based on Minneapolis May futures: 12% proteins were not quoted; 13% proteins were unchanged at +85N; 13.5% proteins were not quoted; 14% proteins were unchanged at +175; 14.5% proteins were at +200; 15% proteins were up 75 cents to unchanged at +275 and 16 proteins were not quoted. Wheat receipts on the exchange floor were 11 cars, which included zero train(s)*. Bid (B), Ask(A), Nominal(N). MGEX Daily Grain Prices are Delivered Chicago/Beyond freight: Spot No. 1 Milling Northern/Dark Northern Spring Wheat.

Mary Kennedy can be reached at mary.kennedy@dtn.com.

Follow her on X, formerly known as Twitter, @MaryCKenn.

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