DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 13 cents under the September futures contract while the DTN National Corn Index was unchanged at $3.86. The national average basis for soybeans was steady at 50 cents under the November futures contract, while the DTN National Soybean Index was up 5 cents at $9.63. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 53 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 10 cents at $4.82. The national average basis for hard red spring (HRS) wheat was steady at 46 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $5.86.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.86	$0.00	-$0.13	Sep	-$0.002
Soybeans:	$9.63	$0.05	-$0.50	Nov	-$0.012
SRW Wheat:	$4.98	$0.07	-$0.56	Sep	-$0.006
HRW Wheat:	$4.82	$0.10	-$0.53	Sep	-$0.007
HRS Wheat:	$5.86	$0.00	-$0.46	Sep	$0.002

CORN:

The national average corn basis for Thursday was 13 cents under the September futures, unchanged from Wednesday's basis. PNW basis is steady at +140U and Hereford, Texas, is steady at +120U. CIF basis is steady at +84U and track St. Louis is steady at +42U. Processors are mixed with Cedar Rapids, Iowa, at 3 cents stronger at option the U; Fort Dodge, Iowa, is steady at -5U; Council Bluffs, Iowa, 2 cents weaker at +13U; Decatur, Illinois, is steady at +15U; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is steady at +15U; Hastings, Nebraska, is steady at -13U; Lincoln, Nebraska, is steady at -10U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is 5 cents stronger at +10U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Thursday was 50 cents under the November futures, 1 cent weaker than Wednesday's basis. PNW basis for October is steady at +100X. July CIF basis is 5 cents stronger at +87Q and track St. Louis is 2 cents stronger at +37Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +29X; St. Paul, Minnesota, is steady at -40Q and basis on the Illinois River at Havana, Illinois, is steady at +10Q. Processors are mixed with Council Bluffs, Iowa, steady at -5X; Cedar Rapids, Iowa, is steady at -25X; Sioux City is steady at -5X; Decatur, Illinois, is steady at -20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is steady at -55X; Hastings, Nebraska, is steady at -72X; Lincoln, Nebraska, is steady at -10X; Aberdeen, South Dakota, is steady at -50X; Mitchell, South Dakota, is 2 cents stronger at -75Q; and Mankato, Minnesota, is steady at -8X. BN secondary shuttle freight for returns is bid plus $50 over against no offers, and LH July is bid even money against offers of plus $150 over. UP secondary freight for returns is not bid against offers of plus $100 over, and LH July is not bid against offers of plus $100 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 56 cents under the September futures, unchanged from Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was at 53 cents under the Kansas City September futures, 1 cent weaker than Wednesday's basis. Spot premiums were steady to lower with ordinary protein through 12.2% down 5 at +80;12.4% through 12.6 is steady at +85; 12.8% was steady at +90; 13% through 13.8% is steady at +105 and 14% was steady 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 down 10 at +90.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was at 46 cents under the MIAX Minneapolis September futures, unchanged from Wednesday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows basis the September MIAX spring wheat futures: 12% proteins were not quoted; 13% proteins were down 10 at +125; 13.5 proteins were unchanged to up 5 at +120N to +140; 14 proteins were unchanged to up 5 at +135N to +175; 14.5% proteins were up 5 to down 50 at +175; 15% proteins were down 30 to up 30 at +310 to +400, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 47 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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