DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 41 cents under the May futures contract, while the DTN National Corn Index was down 6 cents at $4.19. The national average basis for soybeans was unchanged at 75 cents under the May futures, while the DTN National Soybean Index was up 2 cents at $10.88. 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 down 3 cents at $5.32. The national average basis for hard red spring (HRS) wheat was steady at 40 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was down 1 cent at $5.87.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.19	-$0.06	-$0.41	May	$0.004
Soybeans:	$10.88	$0.02	-$0.75	May	$0.000
SRW Wheat:	$5.32	-$0.08	-$0.56	May	-$0.004
HRW Wheat:	$5.32	-$0.03	-$0.71	May	$0.002
HRS Wheat:	$5.87	-$0.01	-$0.40	May	$0.001

CORN:

The national average corn basis for Monday was 41 cents under the May futures, unchanged from Friday's basis. PNW basis for May is steady at +105K and CIF is steady at +80K. March track St. Louis is steady at +22K. Processors are mixed with Cedar Rapids, Iowa, 2 cents weaker at -20K; Fort Dodge, Iowa, is steady at -40K; Council Bluffs, Iowa, is steady at -18K; Des Moines, Iowa, is steady at -29K; Decatur, Illinois, is steady at -8K; Mitchell, South Dakota, is 3 cents stronger at -63K; Blair, Nebraska, is steady at -18K; 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 -40K.

SOYBEAN:

The national average soybean basis for Monday was 75 cents under the May futures, unchanged from Friday's basis. PNW basis bid for LH March is steady at +70K. March CIF basis is steady at +60K and track St. Louis is steady at option the K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -30K; St. Paul, Minnesota, is steady at -90K and basis on the Illinois River at Havana, Illinois, is 5 cents stronger at -30K. Processors are mixed with Council Bluffs, Iowa, steady at -55K; Des Moines, Iowa, is 10 cents stronger at -50K; Cedar Rapids, Iowa, is 5 cents stronger at -35K; Sioux City is steady at -50K; Decatur, Illinois, is steady at -14K; Volga, South Dakota, is steady at -72K; Spiritwood, North Dakota, is steady at -55K; NDSP Casselton, North Dakota is 5 cents stronger at -65K; 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 -62K; and Mankato, Minnesota, is steady at -45K. BN secondary shuttle freight for returns is bid plus $600 over against no offers, LH March is bid plus $600 over against no offers and April is bid plus $300 over against offers of plus $700 over. UP secondary freight for returns is bid plus $500 over against no offers, LH March is bid plus $500 over against no offers, and by April 5 is bid plus 3100 over against offers of plus $500 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 56 cents under the May futures, 1 cent weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 71 cents under the Kansas City May futures, unchanged from Friday'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 6 cents stronger at +136; 12.6 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 +120, while Texas Gulf basis for 11% is steady at +135.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 40 cents under the MIAX Minneapolis May futures, unchanged from Friday'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 not quoted; 13.5% proteins are unchanged at +90N; 14% proteins are +125; 14.5% proteins are not quoted; 15% proteins are unchanged at +200 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 24 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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