DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 26 cents under the September futures contract, while the DTN National Corn Index was up 11 cents at $4.33. The national average basis for soybeans was 1 cent stronger at 41 cents under the November futures, and the DTN National Soybean Index was up 11 cents at $11.52. The national average basis for hard red winter (HRW) wheat was unchanged at 57 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index was up 34 cents at $6.97. The national average basis for hard red spring (HRS) wheat was steady at 43 cents under the MIAX Minneapolis September futures contract, while the DTN National Hard Red Spring Wheat Index was up 9 cents at $6.35.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.33	$0.11	-$0.26	Sep	$0.002
Soybeans:	$11.52	$0.11	-$0.41	Nov	$0.007
SRW Wheat:	$6.13	$0.22	-$0.61	Sep	$0.003
HRW Wheat:	$6.97	$0.34	-$0.57	Sep	-$0.002
HRS Wheat:	$6.35	$0.09	-$0.43	Sep	$0.000

CORN:

The national average corn basis for Friday was 26 cents under the September futures, unchanged from Thursday's basis. PNW basis for LH August is 10 cents stronger at +125U; LH Sep basis is 2 cents stronger at +130U and August CIF is steady at +91U. Track St. Louis for August is steady at +18U. Processors for August are mixed with Cedar Rapids, Iowa, is steady at -12U; Fort Dodge, Iowa, is steady at -25U; Council Bluffs, Iowa, is 5 cents stronger at -6U; Des Moines, Iowa, is steady at -18U; Decatur, Illinois, is 7 cents stronger at +22U; Mitchell, South Dakota, is steady at -44U; Blair, Nebraska, is steady at -8U; Hastings, Nebraska, is steady at -20U; Lincoln, Nebraska, is steady at -25N; Garden City, Kansas, is steady at -20U; Columbus, Nebraska, is steady at -8U; Tharaldson Ethanol Casselton, North Dakota is steady at -50U; Blue Flint, North Dakota is 10 cents stronger at -50U; St. Paul, Minnesota, is steady at -60U; and Marshall, Minnesota, is unchanged at -40U.

SOYBEAN:

The national average soybean basis for Friday was 41 cents under the November futures, 1 cent stronger than Thursday's basis. PNW basis for last period September is steady at +170X; CIF basis for August is 4 cents stronger at +105X and track St. Louis for August is steady at +20X. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +25X; August St. Paul, Minnesota, is 7 cents stronger at -58X and basis on the Illinois River at Havana, Illinois, is 1 cent stronger at -8X. Processors for August are mixed with Council Bluffs, Iowa, steady at +40X; Des Moines, Iowa, is at steady at +5X; Cedar Rapids, Iowa, is steady at +5X; Sioux City is 10 cents stronger at +70X; Decatur, Illinois, is steady at +35X; Spiritwood, North Dakota, is steady at option the X; NDSP Casselton, North Dakota is steady at +5X; Hastings, Nebraska, is steady at -50X; Lincoln, Nebraska, is 30 cents weaker at +20X; Grand Island, Nebraska, is steady at -60X; Aberdeen, South Dakota, is steady at -40X; Mitchell, South Dakota, is 10 cents stronger at +50X; Volga, South Dakota, is steady at +20X, and Mankato, Minnesota, is 5 cents weaker at +10X. BN secondary shuttle freight for returns is bid plus $300 over against no offers, August is bid plus $300 over against no offers, FH September is bid plus $300 against no offers and O,N,D is bid plus $800 over against offers of plus $1,000 over. UP secondary shuttle freight for returns is bid plus $100 over against no offers, LH August is bid even plus $100 over against no offers and O,N,D is bid plus $300 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 61 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 57 cents under the Kansas City September futures, unchanged from Thursday's basis. Spot premiums are steady with ordinary protein steady at +100; 11% protein through 11.6% is steady at +105; 11.8% protein through 12.4% is steady at +107; 12.6% through 12.8% proteins are steady at +110; 13% through 13.4% proteins are unchanged at +111;13.6% protein is steady at +120; 13.8% protein is steady at +125; 14% protein is steady at +125. Gulf track bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is steady at +140, while Texas Gulf basis for 11% protein is steady at +135.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 43 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 not quoted; 13.5% proteins are unchanged at +130N; 14% proteins are unchanged at +125N to +140N; 14.5% proteins are not quoted; 15% proteins are down 5 to unchanged at +125 to +200 and 16% proteins are not quoted. Wheat receipts on the exchange floor were 38 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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