DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 18 cents under the September futures contract, while the DTN National Corn Index was up 7 cents at $3.69. The national average basis for soybeans was 1 cent weaker at 68 cents under the November futures contract, while the DTN National Soybean Index was up 19 cents at $9.88. 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 3 cents at $4.54. 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 $5.34.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.69	$0.07	-$0.18	Sep	$0.002
Soybeans:	$9.88	$0.19	-$0.68	Nov	-$0.007
SRW Wheat:	$4.51	$0.02	-$0.56	Sep	$0.002
HRW Wheat:	$4.54	$0.03	-$0.50	Sep	$0.000
HRS Wheat:	$5.34	$0.00	-$0.36	Sep	$0.008

CORN:

The national average corn basis for Thursday was 18 cents under the September futures, 1 cent stronger than Wednesday's basis. PNW basis is $10 stronger for September at +140U and Hereford, Texas, is for October at +105Z. CIF basis is 3 cents weaker at +79U and track St. Louis is 2 cents stronger at +15U. Processors are mixed with Cedar Rapids, Iowa, 2 cents weaker at -4U; Fort Dodge, Iowa, is steady at -18U; Council Bluffs, Iowa, is steady at option the U; Decatur, Illinois, is steady 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 Thursday was 68 cents under the November futures, 1 cent weaker than Wednesday's basis. PNW basis for October is not quoted. LH August CIF basis is 2 cents stronger at +40X 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 steady at -45X; Sioux City is steady at -40X; Decatur, Illinois, is steady at +10X; Volga, South Dakota, is steady at -50X; Spiritwood, North Dakota, is 10 cents stronger at -85X; 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. BN secondary shuttle freight for returns is not bid or offered, LH August is bid minus $600 under against offers of minus $400 under and FH September is bid minus $300 under against offers of minus $100 under. UP secondary freight for returns (Mexico) is bid minus $300 under against offers of minus $200 under, LH August (Mexico)is bid minus $250 under against offers of minus $150 under and FH September is not bid under against offers of minus $50 under.

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 50 cents under the Kansas City September futures, unchanged from Wednesday'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 steady at +102; 13.6% is steady 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% is down 5 at +135, while Texas Gulf basis for 11% is steady at +140 as exports remain strong there but may be coming to an end. Taiwan purchased 95.000 mt of US milling wheat, in a combo of HRW/HRS/SWW.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was at 36 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 was not quoted; 13% proteins are unchanged at +35N; 13.5 proteins were unchanged at +75N; 14 proteins were unchanged at +100N to +105N; 14.5% proteins were not quoted; 15% proteins were up 25 to up 35 at +190 to +200, and 16% proteins were at +220. Wheat receipts on the exchange floor were 22 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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