DTN Daily Basis Comments
Corn, Soybean Basis Steady
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 27 cents under the May futures contract and the DTN National Corn Index up 3 cents at $4.57. The national average basis for soybeans was steady at 55 cents under the May futures contract, while the DTN National Soybean Index was up 3 cents at $9.84. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 67 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was up 6 cents at $4.91. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 26 cents under the Minneapolis May futures contract, and the DTN National Hard Red Spring Wheat Index was up 3 cents at $5.78. NOTE: On Sunday, March 13, for trade date March 14, CBOT launched a Hard Red Spring (HRS) Wheat contract. This will be in addition to the benchmark MIAX Minneapolis HRS wheat contract currently listed.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.57 | $0.03 | -$0.27 | May | $0.003 |
| Soybeans: | $9.84 | $0.03 | -$0.55 | May | -$0.001 |
| SRW Wheat: | $4.91 | $0.05 | -$0.57 | May | -$0.004 |
| HRW Wheat: | $4.91 | $0.06 | -$0.67 | May | $0.006 |
| HRS Wheat: | $5.78 | $0.03 | -$0.26 | May | $0.008 |
CORN:
The national average corn basis for Wednesday was 27 cents under the May futures, unchanged from Tuesday's basis.
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SOYBEAN:
The national average soybean basis for Wednesday was 55 cents under the May futures, unchanged from Tuesday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Wednesday was 57 cents under the May futures, 1 cent weaker than Tuesday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Wednesday was 67 cents under the Kansas City May futures, 1 cent stronger than Tuesday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 26 cents under the Minneapolis May futures, 1 cent stronger than Tuesday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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