DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 15 cents under the September futures contract while the DTN National Corn Index was up 2 cents at $3.79. The national average basis for soybeans was 1 cent weaker at 55 cents under the November futures contract, while the DTN National Soybean Index was down 7 cents at $9.35. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 55 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 2 cents at $4.71. The national average basis for hard red spring (HRS) wheat was steady at 48 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $5.30.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.79	$0.02	-$0.15	Sep	-$0.001
Soybeans:	$9.35	-$0.07	-$0.55	Nov	-$0.005
SRW Wheat:	$4.69	$0.02	-$0.54	Sep	$0.021
HRW Wheat:	$4.71	$0.02	-$0.55	Sep	-$0.021
HRS Wheat:	$5.30	$0.00	-$0.48	Sep	-$0.003

CORN:

The national average corn basis for Thursday was 15 cents under the September futures, unchanged from Wednesday's basis. PNW basis is steady at +135U and Hereford, Texas, is $5 weaker at +105U. CIF basis is 8 cents weaker at +80U and track St. Louis is 9 cents weaker at +18U. Processors are mixed with Cedar Rapids, Iowa, is 2 cents weaker at option the U; Fort Dodge, Iowa, is 1 cent stronger at -9U; Council Bluffs, Iowa, is 1 cent weaker at +3U; Decatur, Illinois, is steady at +16U; Mitchell, South Dakota, is steady at -24U; Blair, Nebraska, is 2 cents stronger at option the U; Hastings, Nebraska, is steady at 10U; Lincoln, Nebraska, is 5 cents weaker at -10U; 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 55 cents under the November futures, 1 cent weaker than Wednesday's basis. PNW basis for October is not quoted. August CIF basis is steady at +91Q and track St. Louis is steady at +24Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at option the X; St. Paul, Minnesota, is at -63X and basis on the Illinois River at Havana, Illinois, is 1 cent weaker at -5Q. Processors are mixed with Council Bluffs, Iowa, steady at -30X; Cedar Rapids, Iowa, is 5 cents weaker at -20X; Sioux City is steady at -10X; Decatur, Illinois, is steady at -20X; Volga, South Dakota, is steady at -40X; Spiritwood, North Dakota, is 5 cents weaker at -63X; Hastings, Nebraska, is steady at -70X; Lincoln, Nebraska, is steady at -20X; Aberdeen, South Dakota, is 10 cents weaker at -65X; Mitchell, South Dakota, is at -70X; and Mankato, Minnesota, is 10 cents weaker at -40X. BN secondary shuttle freight for returns is bid minus $100 under against no offers, FH August is bid minus $100 under against offers of even money and LH August is bid minus $100 under against offers of even money. UP secondary freight for returns is bid minus $100 under against offers of even money, and August is bid minus $150 under against offers of minus $100 under.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 54 cents under the September futures, 2 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was at 55 cents under the Kansas City September futures, 2 cents weaker than Wednesday's basis. Spot premiums were mixed with ordinary protein through 11.6% steady at +65; 11.8% was steady at +65; 12% through 12.2% through 12.6% is up 10 at +75; 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 +90 with no protein bumps. June PNW 11.5% was steady at +120, while the June Texas Gulf basis for 11% was up 5 at +110.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was at 48 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 not quoted; 13.5 proteins were down 30 to down 79 at +30; 14 proteins were up 10 to up 30 at +100B to +135; 14.5% proteins were up 30 to down 45 at +145 to +150; 15% proteins were unchanged at +260, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 60 cars, which includes 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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