DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 19 cents under the September futures contract, while the DTN National Corn Index was down 4 cents at $3.61. The national average basis for soybeans was 2 cents weaker at 67 cents under the November futures contract, while the DTN National Soybean Index was down 9 cents at $9.67. 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 down 7 cents at $4.50. 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 unchanged at $5.32.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.61	-$0.04	-$0.19	Sep	-$0.004
Soybeans:	$9.67	-$0.09	-$0.67	Nov	-$0.011
SRW Wheat:	$4.42	-$0.04	-$0.56	Sep	$0.000
HRW Wheat:	$4.50	-$0.07	-$0.50	Sep	$0.001
HRS Wheat:	$5.32	$0.00	-$0.36	Sep	-$0.004

CORN:

The national average corn basis for Tuesday was 19 cents under the September futures, 1 cent weaker than Monday's basis. PNW basis is steady at +130U and Hereford, Texas, is for September at +120U. CIF basis is 2 cents stronger at +82U and track St. Louis is 5 cents weaker at +13U. Processors are mixed with Cedar Rapids, Iowa, 6 cents weaker at -6U; Fort Dodge, Iowa, is 6 cents weaker at -18U; Council Bluffs, Iowa, is steady at option the U; Decatur, Illinois, is steady at +20U; 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 2 cents weaker at -7U.

SOYBEAN:

The national average soybean basis for Tuesday was 67 cents under the November futures, 2 cents weaker than Monday's basis. PNW basis for October is not quoted. LH August CIF basis is 10 cents weaker at +38X and track St. Louis is 8 cents stronger at -36X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at -35X; St. Paul, Minnesota, is 12 cents weaker at -80X and basis on the Illinois River at Havana, Illinois, is 5 cents weaker at -50X. Processors are mixed with Council Bluffs, Iowa, steady at -25X; Cedar Rapids, Iowa, is steady at -40X; Sioux City is steady at -15X; Decatur, Illinois, is steady at +10X; Volga, South Dakota, is 10 cents weaker at -50X; Spiritwood, North Dakota, is 5 cents weaker 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 20 cents weaker at -95X; and Mankato, Minnesota, is 5 cents weaker at -65X. BN secondary shuttle freight for returns is not bid or offered, LH August is noy bid against offers of minus $150 under and FH September is bid minus $250 under against offers of minus $100 under. UP secondary freight for returns is not bid against offers of minus $100 under, LH August is not bid against offers of minus $100 under and FH September is bid minus $200 under against offers of minus $50 under.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was at 50 cents under the Kansas City September futures, unchanged from Monday's basis. Spot premiums were steady with ordinary protein unchanged at +70; 11% through 11.8% was down 3 at +77; 12% through 12.2% was down 4 at -77; 12.4% through 12.6% is down 3 at +77; 12.8% was unchanged at +90; 13% is steady at +100; 13.2% through 13.4% is steady at +105; 13.6% is at +115;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. June PNW 11.5% was up 15 at +135, while the June Texas Gulf basis for 11% is up 10 at +135 as exports remain strong there.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was at 36 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 was not quoted; 13% proteins are unchanged at +35N; 13.5 proteins were up 15 at +75; 14 proteins were down 40 at +100; 14.5% proteins were not quoted; 15% proteins were down 10 to down 30 at +190, and 16% proteins were not quoted. Wheat receipts on the exchange floor were 12 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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