DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 29 cents under the September futures contract, while the DTN National Corn Index was up 8 cents at $4.19. The national average basis for soybeans was 2 cents stronger at 43 cents under the August futures, while the DTN National Soybean Index was up cents at $11.59. The national average basis for hard red winter (HRW) wheat was steady at 58 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 42 cents at $6.62. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 49 cents under the MIAX Minneapolis September futures contract, and the DTN National Hard Red Spring Wheat Index was up 26 cents at $6.34.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.19	$0.08	-$0.29	Sep	-$0.005
Soybeans:	$11.59	$0.11	-$0.43	Aug	$0.016
SRW Wheat:	$6.22	$0.32	-$0.55	Sep	-$0.003
HRW Wheat:	$6.62	$0.42	-$0.58	Sep	-$0.003
HRS Wheat:	$6.34	$0.26	-$0.49	Sep	$0.010

CORN:

The national average corn basis for Wednesday was 29 cents under the September futures, 1 cent weaker than Tuesday's basis. PNW basis for July is steady at +125U and July CIF is 10 cents stronger at +101N. Track St. Louis for July is steady at +43U. Processors for July are mixed with Cedar Rapids, Iowa, steady 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 2 cents weaker at +14U; Mitchell, South Dakota, is steady at -48U; Blair, Nebraska, is 2 cents weaker at -17U; Hastings, Nebraska, is 3 cents stronger at -29U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is steady at -30U; Columbus, Nebraska, is 3 cents weaker at -13U; St. Paul, Minnesota, steady at -34U; and Marshall, Minnesota, is 5 cents weaker at -45U.

SOYBEAN:

The national average soybean basis for Wednesday was 43 cents under the August futures, 2 cents stronger than Tuesday's basis. PNW basis for September is steady at +185X; CIF basis for July is steady at +106Q and track St. Louis for July is steady at +45Q. 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 steady at +35Q; Volga, South Dakota, is steady at -28Q; Spiritwood, North Dakota, is 5 cents weaker at option the X; NDSP Casselton, North Dakota is 5 cents weaker at option the X; Hastings, Nebraska, is 7 cents stronger at -50X; 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 $50 under against offers of even money, August is bid minus $50 under against offers of plus $50 over and October is bid plus $1100 over against offers of plus $1500 over. UP secondary freight for returns is bid minus $100 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 Wednesday was 55 cents under the September futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 58 cents under the Kansas City September futures, unchanged from Tuesday's basis. Spot premiums are mixed with ordinary protein steady at +100; 11% protein is steady at +130; 11.2% through 12.2% protein is steady at +135; 12.4 protein is down 5 at +130; 12.6 protein though 12.8 protein is steady at +130; 13% through 13.2% proteins are down 10 at +130; 13.4% protein is down 15 at +130; 13.6% is down 20 at +130; 13.8% protein is unchanged at +150; 14% proteins are steady at +157. Gulf track bid for spot 11% protein is steady at +90 with no protein bumps. PNW 11.5% is steady at +120, while Texas Gulf basis for 11% protein is steady at +125. U.S. Wheat Associates in their weekly harvest report noted "There are 407 samples in the laboratory for testing. Current unweighted averages are test weight 60.0 lb/bu (78.9 kg/hl), moisture 11.3%, 1000 kernel weight 28.2 grams, protein 12.5% (12% mb) and falling number 354 seconds. The crop currently grades U.S. No. 2 HRW. For soft red winter wheat, testing is complete on 156 samples from across the region. Current unweighted averages include moisture of 13.2%, protein of 10.1% (12% mb), thousand kernel weight of 34.3 grams and falling number of 308 seconds. Compared to 2025, protein, thousand kernel weight and falling number are higher. Test weight at 59.9 lb/bu (78.8 kg/hl) is slightly higher than last year and makes the average grade a U.S. No. 2 SRW."

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 49 cents under the MIAX Minneapolis September futures, 1 cent stronger than Tuesday'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 not quoted; 13.5% proteins are unchanged at +140N; 14% proteins are down 15 at +140; 14.5% proteins are not quoted; 15% proteins are down 100 to up 5 at +200 to +305 and 16% proteins are unchanged at +305N. Wheat receipts on the exchange floor were 45 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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