DTN Daily Basis Comments
Friday Morning Basis Comments
The national average basis for corn was steady at 17 cents under the May futures contract while the DTN National Corn Index was down 3 cents at $4.10. The national average basis for soybeans was 1 cent stronger at 54 cents under the May futures contract, while the DTN National Soybean Index was down 15 cents at $10.80. The national average basis for hard red winter (HRW) wheat was unchanged at 49 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $5.29. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 24 cents under the May futures contract, while the DTN National Hard Red Spring Wheat Index was up 5 cents at $6.15.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.10 | -$0.03 | -$0.17 | May | $0.002 |
| Soybeans: | $10.80 | -$0.15 | -$0.54 | May | $0.003 |
| SRW Wheat: | $4.84 | -$0.01 | -$0.53 | May | -$0.005 |
| HRW Wheat: | $5.29 | $0.04 | -$0.49 | May | -$0.001 |
| HRS Wheat: | $6.15 | $0.05 | -$0.24 | May | -$0.007 |
CORN:
The national average corn basis for Thursday was 17 cents under the May futures, unchanged from Wednesday's basis. PNW basis for April is 3 cents stronger at +145K and Hereford, Texas, is 5 cents stronger at +130K for April. CIF NOLA for April is 2 cents stronger at +47K and track St. Louis for April is 2 cents stronger at +22K. Processors are mixed with Cedar Rapids, Iowa, 5 cents stronger at +27K; Fort Dodge, Iowa, is steady at +15K; Council Bluffs, Iowa, is steady at +22K; Decatur, Illinois, is steady at +2K; Mitchell, South Dakota, is 2 cents stronger at -26K; Blair, Nebraska, is steady at +25K; Hastings, Nebraska, is 2 cents stronger at -10K; Lincoln, Nebraska, is steady at -12K; Garden City, Kansas, is steady at +25K; Columbus, Nebraska, is steady at +25K (spot bid by 4-27 is +35K); and Marshall, Minnesota, is steady at -10K.
SOYBEANS:
The national average soybean basis for Thursday was 54 cents under the May futures, 1 cent stronger than Wednesday's basis. PNW for the last half of September is steady at +130X, while CIF NOLA basis for April is 3 cents weaker at +40K and track St. Louis for April is 3 cents weaker at +13K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +8K and St. Paul, Minnesota river bid is 5 cents stronger at -9K. Processors are mixed with Council Bluffs, Iowa, steady at -20K; Cedar Rapids, Iowa, is steady at +5K; Sioux City is steady at -20K; Decatur, Illinois, is steady at +5K; Volga, South Dakota, is steady at -55K; 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 5 cents stronger at -5K. BN secondary shuttle freight for returns is not bid or offered, April is bid $50 under against offers of plus $50 over and May is bid minus $50 under against offers of plus $50 over. UP secondary freight for returns is bid minus $100 under against offers of plus $100 over and April is not bid against offers of plus $100 and May is bid minus $300 under against offers of even money.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 53 cents under the May futures, 1 cent weaker than Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 49 cents under the Kansas City May futures, unchanged from Wednesday's basis. The KC spot milling cash premiums were mostly steady but orders were sharply lower with the mills saying no thanks to low protein today. Ordinary protein was down 25 cents at +65; 11% through 11.4% was unchanged at +95; 11.6% through 13.6% was down 5 cents at +120; 13.8% through 14% protein was unchanged at +120. The track Gulf bid for 11% protein is at +110 with no protein bumps and PNW 11.5 is +140, while Texas Gulf basis for 11% is at +155.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 24 cents under the Minneapolis May futures, 1 cent weaker than Wednesday'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 not quoted; 13.5% proteins were not quoted; 14% proteins were down 35 cents to unchanged at +115 to +170; 14.5% proteins were not quoted; 15% proteins were unchanged at +175N to +240 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 18 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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