DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 15 cents under the September futures contract while the DTN National Corn Index was down 1 cent at $3.89. The national average basis for soybeans was steady at 51 cents under the November futures contract, while the DTN National Soybean Index was down 2 cents at $9.66. The national average basis for hard red winter (HRW) wheat was steady at 72 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 5 at $4.62. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 46 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.79.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $3.89 | -$0.01 | -$0.15 | Sep | $0.001 |
| Soybeans: | $9.66 | -$0.02 | -$0.51 | Nov | -$0.004 |
| SRW Wheat: | $4.74 | -$0.06 | -$0.62 | Sep | $0.013 |
| HRW Wheat: | $4.62 | -$0.05 | -$0.72 | Sep | $0.003 |
| HRS Wheat: | $5.79 | -$0.04 | -$0.46 | Sep | -$0.013 |
CORN:
The national average corn basis for Thursday was 15 cents under the September futures, unchanged from Wednesday's basis. PNW basis is for July is steady at +130U and Hereford, Texas, is steady at +115U. CIF basis is steady at +74U and track St. Louis is steady at +31U. Processors are mixed with Cedar Rapids, Iowa, steady at option the N; Fort Dodge, Iowa, is steady at -10N; Council Bluffs, Iowa, is steady at +8N; Decatur, Illinois, is steady at +8N; Mitchell, South Dakota, is 2 cents stronger at -22N; Blair, Nebraska, is steady at +10N; Hastings, Nebraska, is 2 cents stronger at -18N; Lincoln, Nebraska, is 3 cents stronger at -15N; Garden City, Kansas, is steady at -5U; Columbus, Nebraska, is 2 cents stronger at +12N; and Marshall, Minnesota, is steady at -12U.
SOYBEAN:
The national average soybean basis for Thursday was 51 cents under the November futures, unchanged from Wednesday's basis. PNW basis for October is steady at +105X. CIF basis is 9 cents stronger at +65N and track St. Louis is 4 cents stronger at +19N. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -34X; St. Paul, Minnesota, is steady at -45N and basis on the Illinois River at Havana, Illinois, is 5 cents stronger at -5N. Processors are mixed with Council Bluffs, Iowa, steady at -25X; Cedar Rapids, Iowa, is steady at -25X; Sioux City is steady at --15X; Decatur, Illinois, is steady at +20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is steady at -65X; Hastings, Nebraska, is steady at -72X; Lincoln, Nebraska, is at -35X; Aberdeen, South Dakota, is steady at -50X; Mitchell, South Dakota, is 3 cents stronger at -82N; and Mankato, Minnesota, is steady at -40X.
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SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 62 cents under the September futures, 1 cent stronger than Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 72 cents under the Kansas City September futures, unchanged from Wednesday's basis. Spot premiums were steady with ordinary protein through 12.8% at +90; 13% through 13.8% was at +105 and 14% was at at +177. Gulf bid for spot 11% protein was steady at +90 with no protein bumps. June PNW 11.5% was 5 cents weaker at +125, while the June Texas Gulf basis for 11% was steady at +115.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 46 cents under the MIAX Minneapolis September futures, 1 cent weaker than Wednesday's basis.
The MIAX Futures Exchange, LLC Floor Trading Summary spot milling spring wheat cash premiums closed as follows, and moving to the September MIAX spring wheat futures: 12% proteins were not quoted; 13% proteins were 77 at +125; 13.5 proteins were not quoted; 14 proteins were up 27 to up 35 at +140 to +175; 14.5% proteins were up 42 to up 75 at +150 to +215; 15% proteins were up 55 to unchanged at +180* to +250, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 72 cars, which included two 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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