DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 19 cents under the September futures contract, while the DTN National Corn Index was up 1 cent at $3.61. The national average basis for soybeans was steady at 67 cents under the November futures contract, while the DTN National Soybean Index was up 2 cents at $9.69. The national average basis for hard red winter (HRW) wheat was steady at 50 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 1 cent at $4.51. The national average basis for hard red spring (HRS) wheat was steady at 36 cents under the MIAX Minneapolis September futures contract, and the DTN National Hard Red Spring Wheat Index was up 2 at $5.34.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.61	$0.01	-$0.19	Sep	$0.002
Soybeans:	$9.69	$0.02	-$0.67	Nov	-$0.006
SRW Wheat:	$4.49	$0.07	-$0.56	Sep	$0.001
HRW Wheat:	$4.51	$0.01	-$0.50	Sep	$0.001
HRS Wheat:	$5.34	$0.01	-$0.36	Sep	-$0.001

CORN:

The national average corn basis for Wednesday was 19 cents under the September futures, unchanged from Tuesday's basis. PNW basis is steady at +130U and Hereford, Texas, is for September at +120U. CIF basis is steady at +82U and track St. Louis is steady at +13U. Processors are mixed with Cedar Rapids, Iowa, 4 cents stronger at -2U; Fort Dodge, Iowa, is steady at -18U; Council Bluffs, Iowa, is steady at option the U; Decatur, Illinois, is 5 cents weaker at +15U; Mitchell, South Dakota, is steady at -30U; Blair, Nebraska, is steady at option the U; Hastings, Nebraska, is steady at 10U; Lincoln, Nebraska, is steady at -10U; Garden City, Kansas, is steady at -5Z; Columbus, Nebraska, is steady at +12U; and Marshall, Minnesota, is steady at -7U.

SOYBEAN:

The national average soybean basis for Wednesday was 67 cents under the November futures, unchanged from Tuesday's basis. PNW basis for October is not quoted. LH August CIF basis is steady at +38X and track St. Louis is steady at -36X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -35X; St. Paul, Minnesota, is steady at -80X and basis on the Illinois River at Havana, Illinois, is steady at -50X. Processors are mixed with Council Bluffs, Iowa, steady at -25X; Cedar Rapids, Iowa, is 5 cents weaker at -45X; Sioux City is 10 cents weaker at -25X; Decatur, Illinois, is steady at +10X; Volga, South Dakota, is steady at -50X; Spiritwood, North Dakota, is steady at -95X; Hastings, Nebraska, is steady at -68X; Lincoln, Nebraska, is 10 cents weaker at -40X; Aberdeen, South Dakota, is steady at -70X; Mitchell, South Dakota, is steady at -95X; and Mankato, Minnesota, is steady at -65X.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was at 50 cents under the Kansas City September futures, unchanged from Tuesday's basis. Spot premiums were mixed with ordinary protein unchanged at +70; 11% through 11.6% was up 8 at +85; 11.8% through 12.6% is unchanged at +77; 12.8% was unchanged at +90; 13% is steady at +100; 13.2% through 13.4% is down 3 at +102; 13.6% is down 13 at +102;13.8% is steady at +130 and 14% was steady at +177. Gulf bid for spot 11% protein was steady at +95 with no protein bumps. September PNW 11.5% was steady at +140, while Texas Gulf basis for 11% is up 5 at +140 as exports remain strong there. There was chatter that there was some SRW wheat business was happening, but no confirmation.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was at 36 cents under the MIAX Minneapolis September futures, unchanged from Tuesday'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 was not quoted; 13% proteins are unchanged at +35N; 13.5 proteins were unchanged at +75N; 14 proteins were unchanged to up 5 at +100 to +105; 14.5% proteins were not quoted; 15% proteins were down 25 at +165, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 19 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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