DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 2 cents stronger at 42 cents under the July futures contract, while the DTN National Corn Index was down 1 at $4.32. The national average basis for soybeans was 2 cents stronger at 72 cents under the July futures, and the DTN National Soybean Index was unchanged at $11.23. The national average basis for hard red winter (HRW) wheat was 3 cents stronger at 75 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was down 8 cents at $6.19. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 48 cents under the MIAX Minneapolis July futures contract, while the DTN National Hard Red Spring Wheat Index was down 9 cents at $6.58.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.32	-$0.01	-$0.42	Jul	$0.016
Soybeans:	$11.23	$0.00	-$0.72	Jul	$0.015
SRW Wheat:	$5.73	-$0.20	-$0.64	Jul	-$0.035
HRW Wheat:	$6.19	-$0.08	-$0.75	Jul	$0.034
HRS Wheat:	$6.58	-$0.09	-$0.48	Jul	$0.010

CORN:

The national average corn basis for Thursday was 42 cents under the July futures, 2 cents stronger than Wednesday's basis. PNW basis for May is 1 cents weaker at +117N and CIF is steady at +85N. Track St. Louis is 2 cents stronger at +28N. Processors are mixed as basis is moving to N. Cedar Rapids, Iowa, steady at -10K; Fort Dodge, Iowa, is at -34N; Council Bluffs, Iowa, is at -16N; Des Moines, Iowa, is at -25N; Decatur, Illinois, is steady at +8N; Mitchell, South Dakota, is at -50N; Blair, Nebraska, is steady at -23N; Hastings, Nebraska, is steady at -50N; Lincoln, Nebraska, is 4 cents stronger at -30K; Garden City, Kansas, is at -50N; Columbus, Nebraska, is steady at -15K; St. Paul, Minnesota, is 2 cents stronger -47N; and Marshall, Minnesota, is at -50N.

SOYBEAN:

The national average soybean basis for Thursday was 72 cents under the July futures, 2 cents stronger than Wednesday's basis. PNW basis bid for May is at +100N. CIF basis is at +85N and track St. Louis is at +23N. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +11K; St. Paul, Minnesota, is 2 cents stronger at -58N and basis on the Illinois River at Havana, Illinois, is steady at +6K. Processors are mixed as basis is moves to N. Council Bluffs, Iowa, steady at -35N; Des Moines, Iowa, is at -30N; Cedar Rapids, Iowa, is steady at -30N; Sioux City is 5 cents weaker at -25N; Decatur, Illinois, is steady at +28K; Volga, South Dakota, is 5 cents stronger at -40N; Spiritwood, North Dakota, is at -45N; NDSP Casselton, North Dakota is steady at -50N; Hastings, Nebraska, is at -75N; Lincoln, Nebraska, is steady at -30N; Aberdeen, South Dakota, is 5 cents stronger at -75N; Mitchell, South Dakota, is 5 cents stronger at -30N; and Mankato, Minnesota, is steady at -30N. BN secondary shuttle freight for returns is not bid or offered, FH May is bid plus $700 over against no offers, May is bid is bid plus $600 over against offers of plus $900 over and June is bid plus $200 over against offers of plus $400 over. UP secondary freight for returns is not bid or offered, FP May is bid $100 over against no offers and May is bid even money against offers of plus $300 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 64 cents under the July futures, 3 cents weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 75 cents under the Kansas City July futures, 3 cents stronger than Wednesday's basis. Spot premiums were unchanged. Ordinary protein was steady at +110; 11% through 11.2% was steady at +125; 11.4 through 11.6% is up 2 at +127; 11.8% through 12.2% is up 1 at +127; 12.4% through 13.4% is steady at +122; 13.6 through 13.8% was up 11 at +133 and 14% is up 2 at +133. Gulf bid for spot 11% protein is steady at +120 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 Thursday was 48 cents under the MIAX Minneapolis July futures, 1 cent stronger than Wednesday's basis. The MIAX Futures Exchange LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the July MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins were not quoted; 13.5% proteins are down 25 to unchanged at +85 to +110; 14% proteins are down 10 to up 25 at +90 to +130; 14.5% proteins are down 35 at +120; 15% proteins are up 55 to unchanged at +295 to +300 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 23 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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