DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 14 cents under the September futures contract while the DTN National Corn Index was down 1 cent at $3.95. The national average basis for soybeans was 1 cent weaker at 53 cents under the November futures contract, while the DTN National Soybean Index was up 1 cent at $9.74. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 69 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 5 cents at $4.58.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.95	-$0.01	-$0.14	Sep	$0.008
Soybeans:	$9.74	$0.01	-$0.53	Nov	-$0.015
SRW Wheat:	$4.82	$0.01	-$0.56	Sep	$0.039
HRW Wheat:	$4.58	-$0.05	-$0.69	Sep	$0.023

CORN:

The national average corn basis for Monday was 14 cents under the September futures, 1 cent stronger than Friday'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 and most moved to U with Cedar Rapids, Iowa, is at -3U; Fort Dodge, Iowa, is at -8U; Council Bluffs, Iowa, is steady at +15U; Decatur, Illinois, is steady at +11N; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is steady at +15U; Hastings, Nebraska, is 3 cents stronger at -13U; Lincoln, Nebraska, is steady at -15N; Garden City, Kansas, is 5 cents weaker at +5U; Columbus, Nebraska, is at +2N; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Monday was 53 cents under the November futures, 1 cent weaker than Friday's basis. PNW basis for October is steady at +105X. July CIF basis is at +73N and track St. Louis is at +28N. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 9 cents stronger at -34X; St. Paul, Minnesota, is steady at -40Q and basis on the Illinois River at Havana, Illinois, is 6 cents stronger at +6N. Processors are mixed and not all moved to X yet. Council Bluffs, Iowa, is steady at -25X; Cedar Rapids, Iowa, is steady at -25X; Sioux City is 10 cents stronger at -5X; 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 -72N; and Mankato, Minnesota, is steady at -25X. BN secondary shuttle freight for returns is bid plus $25 over against no offers, FH July is bid minus $50 under against no offers and LH July is bid plus $50 over against offers of plus 200 over. UP secondary freight for returns is bid minus $150 under against no offers, while FH July is no bid against offers of bid minus $50 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 56 cents under the September futures, 4 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 69 cents under the Kansas City September futures, 2 cents stronger than Friday's basis. Spot premiums were mixed with ordinary protein through 11.4% at 90; 11.6% through 11.8% is up 10 at +100; 12% through 12.4% is steady at +100; 12.6 through 12.8% was steady at +90; 13% is down 15 at +75; 13.2% is at +85; 13.4% is down 7 at +92;13.6% is down 5 at +95; 13.8% is up 5 at +110 and 14% was at +177. Gulf bid for spot 11% protein was steady at +90 with no protein bumps. June PNW 11.5% was steady at +125, while the June Texas Gulf basis for 11% was steady at +115.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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