DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 28 cents under the September futures contract, while the DTN National Corn Index was up 2 cents at $4.13. The national average basis for soybeans was unchanged at 46 cents under the August futures, while the DTN National Soybean Index was up 5 cents at $11.51. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 58 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was down 10 cents at $6.08. The national average basis for hard red spring (HRS) wheat was unchanged at 50 cents under the MIAX Minneapolis September futures contract, and the DTN National Hard Red Spring Wheat Index was also unchanged at $6.03.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.13	$0.02	-$0.28	Sep	$0.005
Soybeans:	$11.51	$0.05	-$0.46	Aug	$0.000
SRW Wheat:	$5.81	-$0.07	-$0.55	Sep	-$0.023
HRW Wheat:	$6.08	-$0.10	-$0.58	Sep	$0.002
HRS Wheat:	$6.03	$0.00	-$0.50	Sep	-$0.003

CORN:

The national average corn basis for Monday was 28 cents under the September futures, 1 cent stronger than Friday's basis. PNW basis for July is steady at +125U and July CIF is steady at +91N. Track St. Louis for July is steady at +46U. Processors for July are mixed with Cedar Rapids, Iowa, is 2 cents stronger at -10U; Fort Dodge, Iowa, is steady at -30U; Council Bluffs, Iowa, is steady at -5U; Des Moines, Iowa, is steady at -21U; Decatur, Illinois, is at +16U; Mitchell, South Dakota, is 4 cents stronger at -48U; Blair, Nebraska, is 2 cents weaker at -13U; Hastings, Nebraska, is steady at -32U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is steady at -30U; Columbus, Nebraska, is steady at -10U; St. Paul, Minnesota, steady at -34U; and Marshall, Minnesota, is 5 cents weaker at -45U.

SOYBEAN:

The national average soybean basis for Monday was 46 cents under the August futures, unchanged from Friday's basis. PNW basis for September is 10 cents stronger at +185X; CIF basis for July is 4 cents stronger at +106Q and track St. Louis for July is steady at +43Q. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +33Q; July St. Paul, Minnesota, is at -48Q and basis on the Illinois River at Havana, Illinois, is steady at +10Q. Processors for July are mixed with some basis now moving to X. Council Bluffs, Iowa, is at +10X; Des Moines, Iowa, is steady at 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 -57X; Lincoln, Nebraska, is steady at +10X; Grand Island, Nebraska, is steady at +65X; Aberdeen, South Dakota, is at -70X; Mitchell, South Dakota, is steady at option the Q; and Mankato, Minnesota, is at +5X. BN secondary shuttle freight for returns is bid minus $50 against no offers, LH July is bid minus $100 under against no offers and August is bid minus $100 under against offers of even money. UP secondary freight for returns is bid minus $200 under against no offers, LH July is bid minus $200 under against no offers and August is bid minus $200 under against offers of even money.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 55 cents under the September futures, 3 cents weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 58 cents under the Kansas City September futures, 1 cent stronger than Friday's basis. Spot premiums are steady to higher with ordinary protein steady at +100; 11% protein is steady at +130; 11.2% through 12.4% proteins are steady at +135; 12.6 protein though 12.8 protein is down 5 cents at +130; 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 down 10 at +120, while Texas Gulf basis for 11% protein is down 5 at +125. USDA reported that as of July 12, 67% of the 2026 U.S. winter wheat crop is harvested, ahead of the 61% average for early July. Kansas is 97% done while Illinois is only 5% harvested. For spring wheat, 72% of the crop is headed, while 58% of the spring wheat crop is reported to be in good or excellent condition. Minnesota good to excellent is at 92%, North Dakota is at 65% with Montana dropping 10 points from last week to 33% good to excellent.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 50 cents under the MIAX Minneapolis September futures, unchanged from Friday'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 are not quoted; 14% proteins are up 15 to down 5 at +155; 14.5% proteins are unchanged at +150N; 15% proteins are up 100 to down 5 at +300 and 16% proteins are unchanged at +305N. Wheat receipts on the exchange floor were 17 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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