DTN Daily Basis Comments
Thursday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn is 1 cent stronger at 38 cents under the May futures contract, while the DTN National Corn Index was down 2 cents at $4.09. The national average basis for soybeans was 1 cent stronger at 69 cents under the May futures, while the DTN National Soybean Index was up 5 cents at $10.93. The national average basis for hard red winter (HRW) wheat was steady at 73 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was down 12 cents at $5.22. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 35 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was down 16 cents at $5.89.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.09 | -$0.02 | -$0.38 | May | $0.002 |
| Soybeans: | $10.93 | $0.05 | -$0.69 | May | $0.012 |
| SRW Wheat: | $5.27 | -$0.18 | -$0.53 | May | -$0.001 |
| HRW Wheat: | $5.22 | -$0.12 | -$0.73 | May | $0.000 |
| HRS Wheat: | $5.89 | -$0.16 | -$0.35 | May | $0.013 |
CORN:
The national average corn basis for Wednesday was 38 cents under the May futures, 1 cent stronger than Tuesday's basis. PNW basis for May is steady at +112K and CIF is steady at +88K. Track St. Louis is steady at +33K. Processors are mixed with Cedar Rapids, Iowa, steady at -14K; Fort Dodge, Iowa, is steady at -34K; Council Bluffs, Iowa, is 2 cents stronger at -12K; Des Moines, Iowa, is 3 cents stronger at -19K; Decatur, Illinois, is 5 cents stronger at option the K; Mitchell, South Dakota, is steady at -58K; Blair, Nebraska, is steady at -21K; Hastings, Nebraska, is steady at -40K; Lincoln, Nebraska, is steady at -36K; Garden City, Kansas, is steady at -40K; Columbus, Nebraska, is steady at -25K; St. Paul, Minnesota, is steady -43K; and Marshall, Minnesota, is steady at -37K.
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SOYBEAN:
The national average soybean basis for Wednesday was 69 cents under the May futures, 1 cent stronger than Tuesday's basis. PNW basis bid for FH April is 5 cents stronger at +90K. CIF basis is 9 cent stronger at +86K and track St. Louis is 8 cents stronger at +22K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at -8K; St. Paul, Minnesota, is steady at -50K and basis on the Illinois River at Havana, Illinois, is 6 cents stronger at -13K. Processors are mixed with Council Bluffs, Iowa, is 5 cents weaker at -45K; Des Moines, Iowa, is steady at -30K; Cedar Rapids, Iowa, is steady at -25K; Sioux City is steady at -35K; Decatur, Illinois, is 8 cents stronger at +20K; Volga, South Dakota, is steady at -62K; Spiritwood, North Dakota, is steady at -50K; NDSP Casselton, North Dakota is steady at -50K; Hastings, Nebraska, is 10 cents stronger at -80K; Lincoln, Nebraska, is 15 cents stronger at -35K; Aberdeen, South Dakota, is steady at -80K; Mitchell, South Dakota, is 10 cents stronger at -52K; and Mankato, Minnesota, is steady at -45K. BN secondary shuttle freight for returns is bid plus $600 over against no offers and April is bid plus $500 over against offers of plus $900 over. UP secondary freight for returns is bid plus $200 over against no offers and April is plus $100 over against offers of plus $400 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Wednesday was 53 cents under the May futures unchanged from Tuesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Wednesday was 73 cents under the Kansas City May futures, unchanged from Tuesday's basis. Spot premiums were mixed with ordinary protein up 7 at +107; 11% through 11.8 steady at +115; 12% though 12.2% is down 5 at +115; 12.4% through 13.0% is up 5 at +120; 13.2% through 13.8% was steady at +130 and 14% is steady at +141. Gulf bid for spot 11% protein is steady at +90 with no protein bumps. PNW 11.5% is steady at +130, while Texas Gulf basis for 11% is steady at +135. South Korea flour miller bought 50,000 metric tons of a combo of HRW, SWW, HRS wheat.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 35 cents under the MIAX Minneapolis May futures, 1 cent stronger than Tuesday'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 were are up 10 at +90; 13.5% proteins are unchanged at +105N to +120N; 14% proteins are down 5 to down 10 at +100 to +115; 14.5% proteins are at +105N; 15% proteins are unchanged to down 5 at +170N to +220 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 16 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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