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 $3.71. The national average basis for soybeans was also steady at 69 cents under the November futures contract, while the DTN National Soybean Index was down 11 cents at $9.79. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 49 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $4.48. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 33 cents under the MIAX Minneapolis September futures contract, and the DTN National Hard Red Spring Wheat Index was up 4 cents at $5.39.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.71	$0.01	-$0.19	Sep	$0.000
Soybeans:	$9.79	-$0.11	-$0.69	Nov	-$0.003
SRW Wheat:	$4.50	$0.02	-$0.57	Sep	$0.003
HRW Wheat:	$4.48	$0.00	-$0.49	Sep	$0.008
HRS Wheat:	$5.39	$0.04	-$0.33	Sep	$0.018

CORN:

The national average corn basis for Monday was 19 cents under the September futures, unchanged from Friday's basis. PNW basis is steady for September at +140U and Hereford, Texas, is for October at +105Z. CIF basis is 3 cents stronger at +82U and track St. Louis is 1 cents stronger at +16U. Processors are mixed with Cedar Rapids, Iowa, 4 cents stronger at option the U; Fort Dodge, Iowa, is 7 cents weaker at -25U; Council Bluffs, Iowa, is steady at option the U; Decatur, Illinois, is 5 cents weaker at +10U; Mitchell, South Dakota, is 3 cents weaker at -33U; 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 Monday was 69 cents under the November futures, unchanged from Friday's basis. PNW basis for October is at -50X. LH August CIF basis is 9 cents stronger at +48X and track St. Louis is 4 cents weaker at -32X. 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 3 cents stronger at -45X. The Mississippi River at Memphis is at +1.2 feet above zero gauge and is expected to go below that next week. Processors are mixed with Council Bluffs, Iowa, steady at -25X; Cedar Rapids, Iowa, is steady at -45X; Sioux City is steady at -25X; Decatur, Illinois, is steady at +10X; Volga, South Dakota, is 5 cents weaker at -55X; Spiritwood, North Dakota, is steady at -85X; Hastings, Nebraska, is steady at -68X; Lincoln, Nebraska, is steady at -40X; Aberdeen, South Dakota, is 10 cents weaker at -80X; 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 $150 under. UP secondary freight for returns (Mexico) is bid minus $300 under against offers of minus $200 under, LH August (Mexico)is bid minus $300 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 Monday was 57 cents under the September futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was at 49 cents under the Kansas City September futures, 1 cent stronger than Friday's basis. Spot premiums were mixed with ordinary protein unchanged at +70; 11% through 11.6% was up 10 at +95; 11.8% was up 5 at +90; 12 through 12.4% is up 5 at +85; 12.6% through 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. U.S. Wheat Associates said in their Friday harvest report that the 2025 winter wheat harvest is nearing the finish line. "Crop conditions: In Wyoming, the average protein was above 12% (12% mb). In Nebraska, kernels are trending larger than usual, with most protein between 11-13% (12% mb). In South Dakota, producers are reporting good HRW yields. Reports from Montana and the PNW indicate yields have exceeded expectations, despite challenging drought conditions earlier in the season. Early quality reports from Montana prior to recent rains were positive; growers are monitoring fields where harvest was delayed for potential quality concerns. In Oregon, winter wheat yields and quality are slightly above average.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was at 33 cents under the MIAX Minneapolis September futures, 1 cent stronger than Friday'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 +70; 13.5 proteins were up 30 at +100; 14 proteins were up 20 to down 10 at +120 to +130; 14.5% proteins were down 20 at + 120; 15% proteins were up 25 to up 55 at +200 to +250 and 16% proteins were unchanged at +220N. Wheat receipts on the exchange floor were 52 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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