DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 29 cents under the July futures contract, while the DTN National Corn Index was down 1 cent at $3.80. The national average basis for soybeans was 1 cent stronger at 49 cents under the July futures, while the DTN National Soybean Index was down 2 cents at $10.68. The national average basis for hard red winter (HRW) wheat was steady at 55 cents under the July futures contract, while the DTN National Hard Red Winter Wheat Index was down 16 cents at $5.63. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 41 cents under the MIAX Minneapolis July futures contract, while the DTN National Hard Red Spring Wheat Index was down 23 cents at $5.48.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.80	-$0.01	-$0.29	Jul	$0.007
Soybeans:	$10.68	$0.02	-$0.49	Jul	$0.011
SRW Wheat:	$5.37	-$0.12	-$0.50	Jul	-$0.011
HRW Wheat:	$5.63	-$0.15	-$0.55	Jul	$0.002
HRS Wheat:	$5.48	-$0.23	-$0.40	Jul	$0.014

CORN:

The national average corn basis for Tuesday was 29 cents under the July futures, 1 cent stronger than Monday's basis. PNW basis for June is 5 cents stronger at +130N and CIF is 1 cent stronger at +75N. Track St. Louis is 3 cents stronger at +23N. Processors are mixed with Cedar Rapids, Iowa, steady at -2N; Fort Dodge, Iowa, is steady at -21N; Council Bluffs, Iowa, is steady at option the N; Des Moines, Iowa, is steady at -17N; Decatur, Illinois, is 2 cents stronger at +17N; Mitchell, South Dakota, is 4 cents stronger at -51N; Blair, Nebraska, is 3 cents weaker at option the N; Hastings, Nebraska, is steady at -32N; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is at -50N; Columbus, Nebraska, is steady at -7N; St. Paul, Minnesota, is steady at -45N; and Marshall, Minnesota, is 5 cents stronger at -35N.

SOYBEAN:

The national average soybean basis for Tuesday was 49 cents under the July futures 1 cent stronger than Monday's basis. PNW basis for LH September is steady at +150X and October is steady at +155X; CIF basis is steady at +79N and track St. Louis is 2 cents weaker at +25N. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 5 cents stronger at +20N; St. Paul, Minnesota, is steady at -48N and basis on the Illinois River at Havana, Illinois, is 1 cent stronger at -2N. Processors are steady with Council Bluffs, Iowa, 5 cents weaker at -10N; Des Moines, Iowa, is 5 cents weaker at option the N; Cedar Rapids, Iowa, is 10 cents stronger at option the N; Sioux City is steady at +5N; Decatur, Illinois, is 10 cents stronger at +35N; Volga, South Dakota, is steady at -35N; Spiritwood, North Dakota, is 10 cents stronger at -10N; NDSP Casselton, North Dakota is 5 cents stronger at -15N; Hastings, Nebraska, is steady at -63N; Lincoln, Nebraska, is 10 cents stronger at +10N; Grand Island, Nebraska, is steady at +70N; Aberdeen, South Dakota, is steady at -70N; Mitchell, South Dakota, is steady at -20N; and Mankato, Minnesota, is steady at -5N. BN secondary shuttle freight for returns is not bid or offered, June is not bid or offered and July is bid minus $50 under against offers of even money. UP secondary freight for returns is not bid or offered, June is not bid or offered and July is not bid against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 50 cents under the July futures, 1 cent weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 55 cents under the Kansas City July futures, unchanged from Monday's basis. Spot premiums moved to the September futures last night at -7. Ordinary protein is at +120; 11% through 11.8% proteins are at +128; 12% through 12.4% proteins are at +133; 12.6% through 12.8% proteins are at +131; 13 through 13.6% proteins are at +138; 13.8 through 14% are at +133. Gulf track bid for spot 11% protein is steady at +110 with no protein bumps. PNW 11.5% is steady at +115, while Texas Gulf basis for 11% is steady at +145.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 40 cents under the MIAX Minneapolis July futures, 1 cent stronger than Monday'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 unchanged at +130N; 14% proteins are unchanged to down 10 at +130; 14.5% proteins are at +120; 15% proteins are down 10 to up 5 at +220 to +250 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 14 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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