DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 26 cents under the May futures contract and the DTN National Corn Index was up 2 cents at $4.53. The national average basis for soybeans was steady at 51 cents under the May futures contract, while the DTN National Soybean Index was down 3 cents at $9.99. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 66 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was up 1 at $4.72. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 25 cents under the Minneapolis May futures contract, and the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.66.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.53	$0.02	-$0.26	May	$0.002
Soybeans:	$9.99	-$0.03	-$0.51	May	$0.003
SRW Wheat:	$4.75	$0.01	-$0.55	May	$0.003
HRW Wheat:	$4.72	$0.01	-$0.66	May	$0.008
HRS Wheat:	$5.66	-$0.01	-$0.25	May	$0.007

CORN:

The national average corn basis for Friday was 26 cents under the May futures, unchanged from Thursday's basis. PNW basis for June is steady at +115K and Hereford, Texas, for June is steady at +105K. CIF basis is steady at +71K and track St. Louis is steady at +24K. Processors are steady with Cedar Rapids, Iowa, steady at +1K; Fort Dodge, Iowa, is steady at -16K; Council Bluffs, Iowa, is steady at -3K; Decatur, Illinois, is steady at +14K; Mitchell, South Dakota, is steady at -26K; Blair, Nebraska, is steady at option the K; Hastings, Nebraska, is steady at -32K; Lincoln, Nebraska, is steady at -25K; Garden City, Kansas, is steady at option the K; Columbus, Nebraska, is steady at option the K; and Marshall, Minnesota, is steady at -20K.

SOYBEAN:

The national average soybean basis for Friday was 51 cents under the May futures, unchanged from Thursday's basis. PNW basis for October is steady at +85X. CIF basis is steady at +78K and track St. Louis is steady at +30K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +14K; St. Paul, Minnesota, is steady -31K and basis on the Illinois River at Havana, Illinois, is steady at +7K. The Mississippi River at Vicksburg has crested at 49.3 feet and is on a slow fall. There is still daylight only for barges transiting through Vicksburg. Baton Rouge is in major flood and not expected to crest until May 1. This will create slowdowns for ships in that area and barges heading to the Gulf. Processors are steady with Council Bluffs, Iowa, steady at -20K; Cedar Rapids, Iowa, is steady at option the May; Sioux City is steady at +5K; Decatur, Illinois, is steady at +15K; Volga, South Dakota, is steady at -27K; Spiritwood, North Dakota is steady at +30K; Hastings, Nebraska, steady at -82K; Lincoln, Nebraska, is steady at -10K; Aberdeen, South Dakota, is steady at -45K; Mitchell, South Dakota, is steady at -65K; and Mankato, Minnesota, is steady at -5K.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 55 cents under the May futures, 1 cent stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 66 cents under the Kansas City May futures, 1 cent stronger than Thursday's basis. Spot premiums rolled to the July Friday at -13 spread with ordinary protein at +47; 11% through 11.2 is at +57; 11.4% is at +67; 11.6% through 11.8% was at +69; 12% through 13% was at +67; 13.2% was at +72; 13.4% through 13.6 was at +82; 13.8% was at +99and 14% was steady at +109. Gulf bid for 11% protein was steady at +110K with no protein bumps. PNW 11.5% was steady at +120K, while the Texas Gulf basis for 11% was steady at +120K.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 25 cents under the Minneapolis May futures, 1 cent stronger than Thursday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary spot milling spring wheat cash premiums closed as follows, based on the MIAX July spring wheat futures: 12% proteins were not quoted; 13% proteins were at +75; 13.5 proteins were not quoted; 14 proteins were at +240; 14.5% proteins were up 75 to up 25 at +275; 15% proteins were at +400, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 12 cars, which included 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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