DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 12 cents under the September futures contract while the DTN National Corn Index was up 4 cents at $3.88. The national average basis for soybeans was 1 cent weaker at 51 cents under the November futures contract, while the DTN National Soybean Index was down 1 cent at $9.56. The national average basis for hard red winter (HRW) wheat was steady at 52 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 2 cents at $4.71. 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 down 10 cents at $5.58.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.88	$0.04	-$0.12	Sep	$0.000
Soybeans:	$9.56	-$0.01	-$0.51	Nov	-$0.005
SRW Wheat:	$4.86	-$0.04	-$0.56	Sep	-$0.002
HRW Wheat:	$4.71	-$0.02	-$0.52	Sep	-$0.005
HRS Wheat:	$5.58	-$0.10	-$0.46	Sep	$0.002

CORN:

The national average corn basis for Monday was 12 cents under the September futures, unchanged from Friday'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, 1 cent stronger at +1U; Fort Dodge, Iowa, is steady at -5U; Council Bluffs, Iowa, is steady at +13U; Decatur, Illinois, is steady at +15U; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is steady at +15U; Hastings, Nebraska, is 5 cents stronger at -8U; Lincoln, Nebraska, is steady at -10U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is 8 cents stronger at +18U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Monday was 51 cents under the November futures, 1 cent weaker than Friday's basis. PNW basis for October is steady at +100X. July CIF basis is steady at +90Q and track St. Louis is steady at +37Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents weaker at +19X; St. Paul, Minnesota, is steady at -30Q and basis on the Illinois River at Havana, Illinois, is steady at +8Q. 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 -60X; Lincoln, Nebraska, is steady at -10X; Aberdeen, South Dakota, is steady at -50X; Mitchell, South Dakota, is 2 cents stronger at -70Q; and Mankato, Minnesota, is steady at -8X. BN secondary shuttle freight for returns is bid plus $100 over against offers of plus $200 over, and LH July is bid plus $50 over against offers of plus $250 over. UP secondary freight for returns is bid minus $50 against offers of plus $100 over, and LH July is bid minus $50 against offers of plus $100 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 56 cents under the September futures, 1 cent weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was at 52 cents under the Kansas City September futures, unchanged from Friday's basis. Spot premiums were steady to higher with ordinary protein through 11% steady at +80; 11.2% through 12.2% up 10 at +90;12.4% through 12.6 is up 5 at +90; 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 steady at +90.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was at 46 cents under the MIAX Minneapolis September futures, unchanged from Friday'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 40 at +70; 13.5 proteins were down 45 to down 65 at +75; 14 proteins were up 40 to unchanged at +175*; 14.5% proteins were down 15 at +160; 15% proteins were down 35 to unchanged at +315 to +400, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 48 cars, which included one train. 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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