DTN Daily Basis Comments

Corn Basis Unchanged

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was unchanged at 14 cents under the March futures contract while the DTN National Corn Index was down 1 cent at $3.74. The national average basis for soybeans was 1 cent stronger at 56 cents under the March futures contract while the DTN National Soybean Index was down 10 cents at $8.60. The national average basis for HRW wheat was unchanged at 26 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was up 12 cents at $4.74. The national average basis for HRS wheat was unchanged at 16 cents under the March futures contract and the DTN National Hard Red Spring Wheat Index was up 19 cents at $5.47. *Basis table below notes correction in basis (change from prev. day) after Friday's lack of bids collected because of short staff due to winter storm in Omaha. Basis changes noted are versus Thursday's table due to Friday's lack of bids distorting basis.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.74 -$0.01 -$0.14 Mar $0.008
Soybeans: $8.60 -$0.10 -$0.56 Mar $0.034
SRW Wheat: $5.76 $0.12 -$0.06 Mar $0.008
HRW Wheat: $4.74 $0.13 -$0.26 Mar $0.072
HRS Wheat: $5.47 $0.19 -$0.16 Mar $0.172

CORN:

The national average corn basis for Tuesday is at 14 cents under the March futures, unchanged from Thursday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 56 cents under the March futures, 1 cent stronger than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 6 cents under the Chicago March futures, 3 cents stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 26 cents under the Kansas City March futures, unchanged from Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday is at 16 cents under the Minneapolis March futures, unchanged from Thursday's basis.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow Mary Kennedy on Twitter @MaryCKenn

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Mary Kennedy

Mary Kennedy
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