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 down 5 cents at $3.86 The national average basis for soybeans was 1 cent weaker at 52 cents under the November futures contract, while the DTN National Soybean Index was down 1 cent at $9.74. 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 7 cents at $4.80. The national average basis for hard red spring (HRS) wheat was steady at 47 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was up 5 cents at $5.44.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.86	-$0.04	-$0.13	Sep	$0.001
Soybeans:	$9.74	-$0.01	-$0.52	Nov	-$0.008
SRW Wheat:	$4.93	$0.07	-$0.57	Sep	-$0.005
HRW Wheat:	$4.80	$0.07	-$0.53	Sep	-$0.005
HRS Wheat:	$5.44	$0.05	-$0.47	Sep	-$0.004

CORN:

The national average corn basis for Tuesday was 13 cents under the September futures, unchanged from Monday's basis. PNW basis is steady at +140U and Hereford, Texas, is steady at +130U. CIF basis is steady at +93U and track St. Louis is 3 cents weaker at +35U. Processors are mixed with Cedar Rapids, Iowa, steady at +1U; Fort Dodge, Iowa, is 2 cents stronger at -4U; Council Bluffs, Iowa, is 4 cents weaker at +4U; Decatur, Illinois, is steady at +18U; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is 5 cents weaker at +5U; Hastings, Nebraska, is steady at -8U; Lincoln, Nebraska, is steady at -5U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is 4 cents weaker at +8U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Tuesday was 52 cents under the November futures, 1 cent weaker than Monday's basis. PNW basis for October is not quoted. July CIF basis is steady at +100Q and track St. Louis is 2 cents weaker at +36Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +4X; 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 -25X; Cedar Rapids, Iowa, is steady at -10X; Sioux City is steady at -10X; Decatur, Illinois, is steady at -20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is steady at -60X; Hastings, Nebraska, is steady at -60X; Lincoln, Nebraska, is steady at -20X; Aberdeen, South Dakota, is steady at -45X; Mitchell, South Dakota, is 4 cents stronger at -62Q; and Mankato, Minnesota, is 5 cents weaker at -10X. BN secondary shuttle freight for returns is bid plus $100 over against no offers, LH July is bid plus $100 over against no offers and August is bid even money versus offers of plus 100 over. UP secondary freight for returns is not bid minus against offers of plus $100 over, LH July is not bid against offers of plus $50 over and August is bid minus $250 under against offers of minus $100 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 57 cents under the September futures, 1 cent weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was at 53 cents under the Kansas City September futures, 1 cent weaker than Monday's basis. Spot premiums were mixed with ordinary protein through 11% down 3 at +77; 11.2% through 11.4% is down 5 at +77; 11.6% is up 3 at +77; 11.8% through 12.2% is up 3 at +85; 12.4% is steady at +82; 12.6% through 12.8% was steady at +90; 13% is down 10 at +95; 13.2% through 13.8% is steady at +105 and 14% was steady at +177. Gulf bid for spot 11% protein was steady at +95 with no protein bumps. June PNW 11.5% was steady at +120, while the June Texas Gulf basis for 11% was up 15 at +105.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was at 47 cents under the MIAX Minneapolis September futures, unchanged from Monday'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 are unchanged at +30N; 13.5 proteins were down 60 at +120; 14 proteins were unchanged to down 20 at +110N to +160; 14.5% proteins were not quoted; 15% proteins were down 50 to up 40 at +260 to +350, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 28 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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