DTN Daily Basis Comments
Thursday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 35 cents under the May futures contract, while the DTN National Corn Index was up 1 cent at $4.19. The national average basis for soybeans was 1 cent stronger at 63 cents under the May futures, and the DTN National Soybean Index was down 9 cents at $11.01. The national average basis for hard red winter (HRW) wheat was steady at 69 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was down 6 cents at $5.69. The national average basis for hard red spring (HRS) wheat was steady at 34 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged at $6.31.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.19 | $0.01 | -$0.35 | May | $0.003 |
| Soybeans: | $11.01 | -$0.09 | -$0.63 | May | $0.006 |
| SRW Wheat: | $5.47 | -$0.02 | -$0.53 | May | $0.033 |
| HRW Wheat: | $5.69 | -$0.06 | -$0.69 | May | $0.001 |
| HRS Wheat: | $6.31 | $0.00 | -$0.34 | May | $0.003 |
CORN:
The national average corn basis for Wednesday was 35 cents under the May futures, 1 cent stronger than Tuesday's basis. PNW basis for May is steady at +125K and CIF is 1 cent stronger at +97K. Track St. Louis is steady at +40K. Processors are steady with Cedar Rapids, Iowa, steady at -12K; Fort Dodge, Iowa, is steady at -34K; Council Bluffs, Iowa, is 2 cents stronger at -4K; Des Moines, Iowa, is steady at -16K; Decatur, Illinois, is steady at +5K; Mitchell, South Dakota, is steady at -50K; Blair, Nebraska, is steady at -12K; Hastings, Nebraska, is steady at -40K; Lincoln, Nebraska, is steady at -34K; Garden City, Kansas, is steady at -48K; Columbus, Nebraska, is steady at -13K; St. Paul, Minnesota, is steady -40K; and Marshall, Minnesota, is steady at -35K.
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SOYBEAN:
The national average soybean basis for Wednesday was 63 cents under the May futures, 1 cent stronger than Tuesday's basis. PNW basis bid for April is steady at +115K. CIF basis is steady at +97K and track St. Louis is steady at +30K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 2 cents stronger at +4K; St. Paul, Minnesota, is steady at -56K and basis on the Illinois River at Havana, Illinois, is steady at +11K. Processors are mixed with Council Bluffs, Iowa, steady at -40K; Des Moines, Iowa, is steady at -25K; Cedar Rapids, Iowa, is steady at -20K; Sioux City is 20 cents stronger at option the K; Decatur, Illinois, is steady at +20K; Volga, South Dakota, is steady at -52K; Spiritwood, North Dakota, is steady at -40K; NDSP Casselton, North Dakota is 6 cents stronger at -44K; Hastings, Nebraska, is steady at -80K; Lincoln, Nebraska, is steady at -35K; Aberdeen, South Dakota, is steady at -90K; Mitchell, South Dakota, is steady at -37K; and Mankato, Minnesota, is steady at -35. BN secondary shuttle freight for returns is not bid or offered, April is bid plus $1000 over against no offers and May is bid plus $400 over against offers of plus $600 over. UP secondary freight for returns is not bid or offered, April is bid plus $300 over against no offers and May is bid plus $100 over against offers of plus $300 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Wednesday was 53 cents under the May futures, 3 cents stronger than Tuesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Wednesday was 69 cents under the Kansas City May futures, unchanged from Tuesday's basis. Spot premiums were mixed with ordinary protein steady at +110; 11% through 11.6% is steady at +115; 11.8% through 12.2% is up 3 at +118; 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. Taiwan flour millers are tendering for a U.S. milling wheat combo of HRW, DNS, SWW.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 34 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 unchanged at +120N; 14% proteins are unchanged at +125N; 14.5% proteins are not quoted; 15% proteins are down 85 to up 25 at +215 to +325N and 16% proteins were not quoted. Wheat receipts on the exchange floor were 35 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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