DTN Daily Basis Comments
Monday Morning Basis Comments
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 35 cents under the May futures contract, while the DTN National Corn Index was unchanged at $4.21. The national average basis for soybeans was 1 cent stronger at 62 cents under the May futures, and the DTN National Soybean Index was up 5 cents at $11.02. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was down 7 cents at $5.91. 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 up 1 cent at $6.42.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.21 | $0.00 | -$0.35 | May | $0.005 |
| Soybeans: | $11.02 | $0.05 | -$0.62 | May | $0.007 |
| SRW Wheat: | $5.56 | -$0.02 | -$0.52 | May | $0.008 |
| HRW Wheat: | $5.91 | -$0.07 | -$0.68 | May | $0.005 |
| HRS Wheat: | $6.42 | $0.01 | -$0.34 | May | -$0.002 |
CORN:
The national average corn basis for Friday was 35 cents under the May futures, unchanged from Thursday's basis. PNW basis for May is steady at +125K and CIF is steady at +97K. Track St. Louis is 4 cents stronger at +44K. Processors are mixed with Cedar Rapids, Iowa, steady at -12K; Fort Dodge, Iowa, is 5 cents stronger at -30K; 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 2 cents stronger at -19K; Hastings, Nebraska, is steady at -40K; Lincoln, Nebraska, is steady at -34K; Garden City, Kansas, is steady at -48K; Columbus, Nebraska, is 3 cents stronger at -10K; St. Paul, Minnesota, is steady -40K; and Marshall, Minnesota, is steady at -35K.
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SOYBEAN:
The national average soybean basis for Friday was 62 cents under the May futures, 1 cent stronger than Thursday's basis. PNW basis bid for April is steady at +115K. CIF basis is 2 cents stronger at +99K and track St. Louis is 4 cents stronger at +34K. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +4K; St. Paul, Minnesota, is steady at -56K and basis on the Illinois River at Havana, Illinois, is 11 cents weaker at option the K. Processors are mixed with Council Bluffs, Iowa, steady at -40K; Des Moines, Iowa, is 5 cents stronger at -20K; Cedar Rapids, Iowa, is steady at -20K; Sioux City is 10 cents weaker at -10K; Decatur, Illinois, is steady at +20K; Volga, South Dakota, is 3 ents weaker at -55K; Spiritwood, North Dakota, is steady at -40K; NDSP Casselton, North Dakota is steady at -45K; Hastings, Nebraska, is 15 cents stronger at -65K; Lincoln, Nebraska, is steady at -35K; Aberdeen, South Dakota, is 10 cents stronger at -80K; Mitchell, South Dakota, is steady at -37K; and Mankato, Minnesota, is steady at -35. BN secondary shuttle freight for returns is bid plus $700 against offers of plus $1500 over, 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 FP May is bid plus $100 over against offers of plus $250 over.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 52 cents under the May futures, 1 cent stronger than Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 68 cents under the Kansas City May futures, unchanged from Thursday's basis. Spot premiums were higher as mills are covering nearby needs. Ordinary protein was steady at +110; 11% through 11.6% is up 10 at +125; 11.8% is up 5 at +125; 12% through 12.2% is up 15 at +135; 12.4% is up 20 at +135; 12.6% is up 10 at +125; 12.8% is up 9 at +125; 13% is up 5 at +125; 13.2% through 13.8% was steady at +130 and 14% is steady at +141. Gulf bid for spot 11% protein is up 20 at +110 with no protein bumps. PNW 11.5% is steady at +130, while Texas Gulf basis for 11% is steady at +135. Saudi Arabia is tendering for 710,000 metric tons of wheat.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 34 cents under the MIAX Minneapolis May futures, unchanged from Thursday'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 +120*; 14% proteins are down 40 to unchanged at +85 to +125N; 14.5% proteins are not quoted; 15% proteins are up 25 at +325 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 40 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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