DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 2 cents weaker at 15 cents under the September futures contract while the DTN National Corn Index was up 2 cents at $3.87. The national average basis for soybeans was steady at 53 cents under the November futures contract, while the DTN National Soybean Index was up 1 cent at $9.71. The national average basis for hard red winter (HRW) wheat was steady at 53 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $4.75. 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 down 3 cents at $5.39.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.87	$0.02	-$0.15	Sep	-$0.011
Soybeans:	$9.71	$0.01	-$0.53	Nov	-$0.004
SRW Wheat:	$4.85	$0.01	-$0.56	Sep	$0.000
HRW Wheat:	$4.75	$0.04	-$0.53	Sep	-$0.006
HRS Wheat:	$5.39	-$0.03	-$0.47	Sep	-$0.001

CORN:

The national average corn basis for Thursday was 15 cents under the September futures, 2 cents weaker than Wednesday'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 steady at +35U. Processors are mixed with Cedar Rapids, Iowa, steady at +1U; Fort Dodge, Iowa, is 5 cents weaker at -12U; Council Bluffs, Iowa, is steady at +6U; Decatur, Illinois, is steady at +18U; Mitchell, South Dakota, is at -20U; Blair, Nebraska, is 5 cents weaker at option the U; Hastings, Nebraska, is 2 cents weaker at 10U; Lincoln, Nebraska, is steady at -5U; Garden City, Kansas, is steady at +5U; Columbus, Nebraska, is steady at +8U; and Marshall, Minnesota, is steady at -12U.

SOYBEAN:

The national average soybean basis for Thursday was 53 cents under the November futures, unchanged from Wednesday's basis. PNW basis for October is not quoted. July CIF basis is steady at +90Q and track St. Louis is 11 cents weaker at +25Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -5X; St. Paul, Minnesota, is steady at -30Q and basis on the Illinois River at Havana, Illinois, is steady at -2Q. 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 20 cents weaker at -40X; Aberdeen, South Dakota, is steady at -45X; Mitchell, South Dakota, is 4 cents weaker at -62Q; and Mankato, Minnesota, is steady at -10X.

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, unchanged from Wednesday's basis. Spot premiums were mixed with ordinary protein through 11.6% is steady at +77; 11.8% through 12.2% is steady at +85; 12.4% is steady at +82; 12.6% through 12.8% was steady at +90; 13% is steady 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 up 5 at +125, while the June Texas Gulf basis for 11% was up 15 at +105.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was at 47 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 are down 20 at +10; 13.5 proteins were 60 to down 40 at +60 to +80; 14 proteins were up 15 to down 25 at +125 to +135; 14.5% proteins were at +115 to +120; 15% proteins were down 120 at +230*, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 84 cars, which includes one 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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