DTN Daily Basis Comments

Corn Basis Stronger on Black Friday

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 1 cent stronger at 16 cents under the March futures contract while the DTN National Corn Index was up 6 cents at $5.75. 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 14 cents at $12.14. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 23 cents under the March futures contract and the DTN National Hard Red Winter Wheat Index was down 9 cents at $8.46. The national average basis for hard red spring (HRS) wheat was steady at 37 cents under the March futures contract while the DTN National Hard Red Spring Wheat Index was up 4 cents at $10.08.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $5.75 $0.07 -$0.16 Mar $0.004
Soybeans: $12.14 -$0.14 -$0.38 Jan -$0.003
SRW Wheat: $7.80 -$0.11 -$0.61 Mar -$0.013
HRW Wheat: $8.46 -$0.09 -$0.23 Mar -$0.014
HRS Wheat: $10.12 $0.04 -$0.37 Mar $0.003

CORN:

The national average corn basis for Friday is 16 cents under the March futures, 1 cent stronger than Wednesday's basis.

SOYBEANS:

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

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 61 cents under the March futures, 2 cents weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 23 cents under the Kansas City March futures, 1 cent weaker from Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 37 cents under the Minneapolis March futures, steady with Wednesday'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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