DTN Daily Basis Comments
Tuesday 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 down 4 cents at $4.13. The national average basis for soybeans was steady at 55 cents under the May futures contract, while the DTN National Soybean Index was down 16 cents at $11.03. 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 down 5 cents at $5.36. The national average basis for hard red spring (HRS) wheat was steady at 23 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was down 6 cents at $6.14.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.13 | -$0.04 | -$0.19 | May | $0.005 |
| Soybeans: | $11.03 | -$0.16 | -$0.55 | May | $0.001 |
| SRW Wheat: | $4.98 | -$0.03 | -$0.53 | May | $0.008 |
| HRW Wheat: | $5.36 | -$0.05 | -$0.48 | May | $0.004 |
| HRS Wheat: | $6.14 | -$0.06 | -$0.23 | May | $0.000 |
CORN:
The national average corn basis for Monday was 19 cents under the May futures, unchanged from Friday's basis. PNW basis for April is 3 cents weaker at +142K and Hereford, Texas, is steady at +125K for April. CIF NOLA for April is 5 cents weaker at +45K and track St. Louis for April is 3 cents weaker at +20K. Processors are mixed with Cedar Rapids, Iowa, 2 cents weaker at +20K; Fort Dodge, Iowa, is steady at +14K; Council Bluffs, Iowa, is 3 cents stronger at +20K; Decatur, Illinois, is steady at +2K; Mitchell, South Dakota, is 2 cents stronger at -28K; Blair, Nebraska, is steady at +25K; Hastings, Nebraska, is steady at -12K; Lincoln, Nebraska, is steady at -12K; Garden City, Kansas, is steady at +25K; Columbus, Nebraska, is steady at +25K; and Marshall, Minnesota, is steady at -10K.
SOYBEANS:
The national average soybean basis for Monday was 55 cents under the May futures, unchanged from Friday's basis. PNW for new crop is 5 cents stronger at +125X, while CIF NOLA basis for April is 9 cents weaker at +43K and track St. Louis for April is 4 cents weaker at +16K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents weaker at +8K and St. Paul, Minnesota river bid is steady at +20K. Basis on the Illinois River at Havana, Illinois, is steady 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 steady at -50K; Spiritwood, North Dakota, is steady 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 and April is not bid or offered and May is bid minus $50 over against offers of plus $50 over. UP secondary freight for returns is bid minus $150 under against no offers and April is bid minus $150 under against offers of plus $100 over.
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SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Monday was 53 cents under the May futures, 1 cent stronger than Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday was 48 cents under the Kansas City May futures, unchanged from Friday's basis. The KC spot milling cash premiums were mostly steady with no cars reported sold on Monday. 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 Monday was 23 cents under the Minneapolis May futures, 2 cents weaker than Friday'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 down 40 cents to up 15 cents at +130 to +185; 14.5% proteins were unchanged at +130N; 15% proteins were down 25 cents to unchanged at +175* to +240 and 16 proteins were not quoted. Wheat receipts on the exchange floor were 46 cars, which included one 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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