DTN Daily Basis Comments

Corn, All Wheats Moved to March

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 6 cents weaker at 17 cents under the March futures contract while the DTN National Corn Index was down 1 cent at $5.69. The national average basis for soybeans was steady stronger at 38 cents under the January futures contract and the DTN National Soybean Index was down 7 cents at $12.28. The national average basis for hard red winter (HRW) wheat was 6 cents weaker at 22 cents under the March futures contract and the DTN National Hard Red Winter Wheat Index was down 8 cents at $8.55. The national average basis for hard red spring (HRS) wheat was 11 cents weaker at 37 cents under the March futures contract while the DTN National Hard Red Spring Wheat Index was down 5 cents at $10.08.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $5.69 -$0.01 -$0.17 Mar $0.020
Soybeans: $12.28 -$0.06 -$0.38 Jan $0.001
SRW Wheat: $7.91 -$0.19 -$0.59 Mar -$0.015
HRW Wheat: $8.55 -$0.08 -$0.22 Mar -$0.006
HRS Wheat: $10.08 -$0.05 -$0.37 Mar -$0.041

CORN:

The national average corn basis for Wednesday is 17 cents under the March futures, 6 cents weaker than Tuesday's basis.

SOYBEANS:

The national average soybean basis for Wednesday is at 38 cents under the January futures, steady with Tuesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is at 59 cents under the March futures, 13 cents weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday is at 22 cents under the Kansas City March futures, 6 cents weaker from Tuesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday is at 37 cents under the Minneapolis March futures, 11 cents weaker than Tuesday's basis.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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