DTN Daily Basis Comments
Monday Morning Basis Comments
The national average basis for corn was unchanged at 19 cents under the May futures contract while the DTN National Corn Index was up 7 cents at $4.16. The national average basis for soybeans was steady at 55 cents under the May futures contract, while the DTN National Soybean Index was up 14 cents at $11.19. The national average basis for hard red winter (HRW) wheat was steady at 48 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was up 6 cents at $5.42. The national average basis for hard red spring (HRS) wheat was 2 cents weaker at 23 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was up 4 cents at $6.20.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.16 | $0.07 | -$0.19 | May | $0.002 |
| Soybeans: | $11.19 | $0.14 | -$0.55 | May | -$0.003 |
| SRW Wheat: | $5.02 | $0.04 | -$0.54 | May | $0.000 |
| HRW Wheat: | $5.42 | $0.06 | -$0.48 | May | -$0.001 |
| HRS Wheat: | $6.20 | $0.04 | -$0.23 | May | -$0.014 |
CORN:
The national average corn basis for Friday was 19 cents under the May futures, unchanged from Thursday's basis. PNW basis for April is steady at +145K and Hereford, Texas, is steady at +125K for April. CIF NOLA for April is steady at +50K and track St. Louis for April is steady at +23K. Processors are mixed with Cedar Rapids, Iowa, 2 cents stronger at +22K; Fort Dodge, Iowa, is steady at +14K; Council Bluffs, Iowa, is 2 cents stronger at +17K; Decatur, Illinois, is steady at +2K; Mitchell, South Dakota, is steady at -30K; Blair, Nebraska, is 5 cents stronger at +25K; Hastings, Nebraska, is steady at -12K; Lincoln, Nebraska, is steady at -12K; Garden City, Kansas, is steady at +25K; Columbus, Nebraska, is 7 cents stronger at +25K; and Marshall, Minnesota, is steady at -10K.
SOYBEANS:
The national average soybean basis for Friday was 55 cents under the May futures, unchanged from Thursday's basis. PNW for new crop is 5 cents stronger at +125X, while CIF NOLA basis for April is steady at +52K and track St. Louis for April is steady at +20K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +10K and St. Paul, Minnesota river bid is 3 cents stronger at +20K. Basis on the Illinois River at Havana, Illinois, is 3 cents weaker at -11K. Processors are unchanged with Council Bluffs, Iowa, steady at -20K; Cedar Rapids, Iowa, is steady at option the May; Sioux City is steady at -20K; Decatur, Illinois, is steady at +7K; Volga, South Dakota, is 8 cents weaker at -50K; Spiritwood, North Dakota, is 3 cents weaker at -45K; Hastings, Nebraska, is steady at -85K; Lincoln, Nebraska, is steady at -20K; Aberdeen, South Dakota, is steady at -85K; 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 April/May is bid minus $50 over against offers of plus $50 over. UP secondary freight for returns is not bid or offered and April is bid minus $250 under against offers of even money.
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SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 54 cents under the May futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 48 cents under the Kansas City May futures, unchanged from Thursday's basis. The KC spot milling cash premiums were mostly steady with few cars trading on Friday. Ordinary protein was steady at +110; 11% through 11.4 is steady at +120; 11.6% through 12.8% was steady at +125; 13% through 13.6% was down 5 cents at +125; 13.8 through 14% protein was steady at +130. Offers for 11% protein at the Texas Gulf are steady at +155 and PNW 11.5% is steady at +140, while the track 11% protein Gulf basis bid for April is steady at +110 and no bump for higher protein.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 23 cents under the Minneapolis May futures, 2 cents weaker than Thursday'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 +105N; 13.5% proteins were unchanged at +115N; 14% proteins were unchanged at +170N; 14.5% proteins were unchanged at +130N; 15% proteins were up 10 cents to unchanged at +210 to +240 and 16 proteins were not quoted. Wheat receipts on the exchange floor were 6 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.
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