DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 37 cents under the May futures contract, while the DTN National Corn Index was up 8 cents at $4.14. The national average basis for soybeans was 1 cent stronger at 66 cents under the May futures, and the DTN National Soybean Index was up 9 cents at $11.01. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 69 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was up 4 cents at $5.56. The national average basis for hard red spring (HRS) wheat was steady at 36 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was up 2 cents at $6.04.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.14	$0.08	-$0.37	May	-$0.002
Soybeans:	$11.01	$0.09	-$0.66	May	$0.005
SRW Wheat:	$5.37	$0.01	-$0.56	May	-$0.005
HRW Wheat:	$5.56	$0.04	-$0.69	May	$0.008
HRS Wheat:	$6.04	$0.02	-$0.36	May	$0.001

CORN:

The national average corn basis for Wednesday was 37 cents under the May futures, unchanged from Tuesday's basis. . PNW basis for May is 13 cents stronger at +125K and CIF is 2 cents stronger at +93K. Track St. Louis is steady at +26K. Processors are mixed with Cedar Rapids, Iowa, 2 cents stronger at -12K; Fort Dodge, Iowa, is steady at -34K; Council Bluffs, Iowa, is 2 cents stronger at -12K; Des Moines, Iowa, is 3 cents stronger at -16K; Decatur, Illinois, is 5 cents stronger at +5K; Mitchell, South Dakota, is 3 cents stronger at -55K; Blair, Nebraska, is 6 cents stronger at -12K; Hastings, Nebraska, is steady at -40K; Lincoln, Nebraska, is 2 cents stronger at -34K; Garden City, Kansas, is steady at -48K; Columbus, Nebraska, is 15 cents stronger at -10K; St. Paul, Minnesota, is steady -43K; and Marshall, Minnesota, is 2 cents stronger at -35K.

SOYBEAN:

The national average soybean basis for Wednesday was 66 cents under the May futures, 1 cent stronger than Tuesday's basis. PNW basis bid for FH April is 10 cents stronger at +110K. CIF basis is 4 cents stronger at +91K and track St. Louis is 3cents stronger at +27K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at -6K; St. Paul, Minnesota, is 4 cents stronger at -56K and basis on the Illinois River at Havana, Illinois, is 2 cents stronger at -5K. Processors are mixed with Council Bluffs, Iowa, steady at -45K; Des Moines, Iowa, is steady at -25K; Cedar Rapids, Iowa, is 5 cents stronger at -20K; Sioux City is 15 cents stronger at -20K; Decatur, Illinois, is steady at +20K; Volga, South Dakota, is 10 cents stronger at -52K; Spiritwood, North Dakota, is 10 cents stronger at -40K; NDSP Casselton, North Dakota is 5 cents stronger at -50K; Hastings, Nebraska, is steady at -80K; Lincoln, Nebraska, is steady at -35K; Aberdeen, South Dakota, is steady at -80K; Mitchell, South Dakota, is 10 cents stronger at -42K; and Mankato, Minnesota, is 5 cents stronger at -35. BN secondary shuttle freight for returns is bid plus $1000 over against no offers and April is bid plus $1000 over against offers of plus $2000 over. UP secondary freight for returns is bid plus $400 over against no offers and April is plus $500 over (Mexico option) against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 56 cents under the May futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 69 cents under the Kansas City May futures, 1 cent stronger than Tuesday's basis. Spot premiums were mixed with ordinary protein steady at +110; 11% through 12.6% is steady at +115; 12.8% is steady at +116; 13% is steady 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.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 36 cents under the MIAX Minneapolis May futures, unchanged from 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 not quoted; 13.5% proteins are not quoted; 14% proteins are unchanged to down 15 at +110; 14.5% proteins are not quoted; 15% proteins are down 30 to unchanged at +250 to +280 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 6 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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