DTN Daily Basis Comments
Friday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 41 cents under the May futures contract, while the DTN National Corn Index was up 2 cents at $4.21. The national average basis for soybeans was unchanged at 75 cents under the May futures, while the DTN National Soybean Index was up 13 at $11.52. The national average basis for hard red winter (HRW) wheat was steady at 71 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was unchanged at $5.42. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 38 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was down 4 cents at $5.96.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.21 | $0.02 | -$0.41 | May | $0.001 |
| Soybeans: | $11.52 | $0.13 | -$0.75 | May | $0.000 |
| SRW Wheat: | $5.46 | $0.04 | -$0.53 | May | $0.001 |
| HRW Wheat: | $5.42 | $0.00 | -$0.71 | May | $0.000 |
| HRS Wheat: | $5.96 | -$0.04 | -$0.38 | May | -$0.008 |
CORN:
The national average corn basis for Thursday was 41 cents under the May futures, 1 cent stronger than Wednesday's basis. PNW basis for May is steady at +105K and CIF is steady at +76K. March track St. Louis is steady at +16K. Processors are mixed with Cedar Rapids, Iowa, steady at -21K; Fort Dodge, Iowa, is steady at +40K; Council Bluffs, Iowa, is steady at -17K; Des Moines, Iowa, is steady at -29K; Decatur, Illinois, is steady at -8K; Mitchell, South Dakota, is at -63K; Blair, Nebraska, is 1 cent stronger at -20K; Hastings, Nebraska, is steady at -50K; Lincoln, Nebraska, is steady at -40K; Garden City, Kansas, is steady at -40K; Columbus, Nebraska, is steady at -30K; St. Paul, Minnesota, is -50K; and Marshall, Minnesota, is steady at -45K.
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SOYBEAN:
The national average soybean basis for Thursday was 75 cents under the May futures, unchanged from Wednesday's basis. PNW basis is now bid for LH March at +70K. March CIF basis is steady at +68K and track St. Louis is steady at +5K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 3 cents weaker at -25K; St. Paul, Minnesota, is at -90K and basis on the Illinois River at Havana, Illinois, is 3 cents weaker at -23K. Processors are mixed with Council Bluffs, Iowa, steady at -55K; Des Moines, Iowa, is steady at -50K; Cedar Rapids, Iowa, is steady at -50K; Sioux City is 10 cents stronger at -50K; Decatur, Illinois, is at +3K; Volga, South Dakota, is steady at -77K; Spiritwood, North Dakota, is steady at -85K; NDSP Casselton, North Dakota is steady at -85K; Hastings, Nebraska, is steady at -90K; Lincoln, Nebraska, is steady at -55K; Aberdeen, South Dakota, is steady at -95K; Mitchell, South Dakota, is steady at -67K; and Mankato, Minnesota, is steady at -45K. BN secondary shuttle freight for returns is bid plus $400 over against no offers, LH March is bid plus $400 over against no offers and April is bid plus $200 over against offers of plus $400 over. UP secondary freight for returns is bid plus $500 over against no offers, FH March is bid plus $300 over against no offers, and April is bid plus $100 over against offers of plus $300 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Thursday was 53 cents under the May futures, unchanged from Wednesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Thursday was 71 cents under the Kansas City May futures, unchanged from Wednesday's basis. Spot premiums were unchanged with ordinary protein steady at +115; 11% through 11.4 steady at +127; 11.6% through 12.4% is unchanged at +130; 12.6 is steady at +129; 12.8% through 13.2 is steady at +129;13.4% through 14% was steady at +130. Gulf bid for spot 11% protein is steady at +115 with no protein bumps. PNW 11.5% is steady at +130, while Texas Gulf basis for 11% is steady at +135.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Thursday was 38 cents under the MIAX Minneapolis May futures, 1 cent weaker than Wednesday's basis. The MIAX Futures Exchange LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the May MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are unchanged at +70N; 13.5% proteins are down 15 to unchanged at +75B* to +90N; 14% proteins are down 5 to unchanged at +100 to +120; 14.5% proteins are unchanged at +1300N; 15% proteins are unchanged at +200N to +250N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 45 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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