DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 29 cents under the September futures contract, while the DTN National Corn Index was up 8 cents at $4.11. The national average basis for soybeans was 1 cent weaker at 46 cents under the August futures, while the DTN National Soybean Index was up 14 cents at $11.46. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 59 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 22 cents at $6.18. The national average basis for hard red spring (HRS) wheat was unchanged at 50 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was up 13 cents at $6.02.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.11	$0.08	-$0.29	Sep	$0.000
Soybeans:	$11.46	$0.14	-$0.46	Aug	-$0.005
SRW Wheat:	$5.88	$0.21	-$0.52	Sep	$0.003
HRW Wheat:	$6.18	$0.22	-$0.59	Sep	-$0.002
HRS Wheat:	$6.02	$0.13	-$0.50	Sep	-$0.001

CORN:

The national average corn basis for Friday was 29 cents under the September futures, unchanged from Thursday's basis. PNW basis for July is steady at +125U and July CIF is 3 cents stronger at +91N. Track St. Louis for July is steady at +46U. Processors for July are mixed with Cedar Rapids, Iowa, is 2 cents weaker at -12U; Fort Dodge, Iowa, is 5 cents weaker at -30U; Council Bluffs, Iowa, is steady at -5U; Des Moines, Iowa, is 1 cent weaker at -21U; Decatur, Illinois, is at +16U; Mitchell, South Dakota, is 4 cents stronger at -48U; Blair, Nebraska, is steady at -11U; Hastings, Nebraska, is steady at -32U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is 10 cents weaker at -30U; Columbus, Nebraska, is steady at -10U; St. Paul, Minnesota, steady at -34U; and Marshall, Minnesota, is 3cents weaker at -40U.

SOYBEAN:

The national average soybean basis for Friday was 46 cents under the August futures, 1 cent weaker than Thursday's basis. PNW basis for LH September is 10 cents stronger at +175X; CIF basis for July is 12 cents stronger at +102Q and track St. Louis for July is 8 cents stronger at +43Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 3 cents stronger at +33Q; July St. Paul, Minnesota, is at -48Q and basis on the Illinois River at Havana, Illinois, is 5 cents stronger at +10Q. Processors for July are mixed with some basis now moving to X. Council Bluffs, Iowa, is at +10X; Des Moines, Iowa, is 10 cents weaker option the Q; Cedar Rapids, Iowa, is steady at +10Q; Sioux City is steady at +20Q; Decatur, Illinois, is 10 cents stronger at +35Q; Volga, South Dakota, is steady at -28Q; Spiritwood, North Dakota, is at +5X; NDSP Casselton, North Dakota is at +5X; Hastings, Nebraska, is at -63Q; Lincoln, Nebraska, is steady at +10X; Grand Island, Nebraska, is steady at +65X; Aberdeen, South Dakota, is at -70X; Mitchell, South Dakota, is 8 cents stronger at option the Q; and Mankato, Minnesota, is at +5X. BN secondary shuttle freight for returns is not against offers of plus $50 over, LH July is bid minus $50 under against offers of plus 50 over and August is bid minus $100 under against offers of even money. UP secondary freight for returns is bid minus $250 under against no offers, LH July is bid minus $300 under against offers of minus $100 under and August is not bid against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 52 cents under the September futures, 1 cent stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 59 cents under the Kansas City September futures, 1 cent weaker than Thursday's basis. Spot premiums are steady to higher with ordinary protein steady at +100; 11% protein is steady at +130; 11.2% through 12.8% proteins are steady at +135; 13% through 13.2% proteins are steady at +140; 13.4% protein is at +145; 13.6% through 13.8% proteins are unchanged at +150; 14% proteins are steady at +147. Gulf track 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% at is steady at +130.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 50 cents under the MIAX Minneapolis September 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 September MIAX spring wheat futures: 12% proteins are not quoted; 13% proteins are unchanged at +100N; 13.5% proteins were not quoted; 14% proteins are up 25 to unchanged at +140 to +160; 14.5% proteins are unchanged at +150; 15% proteins are down 100 to down 25 at +200 to +305 and 16% proteins were unchanged at +305N. Wheat receipts on the exchange floor were 39 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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