DTN Daily Basis Comments

Soybean Basis Stronger; Corn Basis Weaker

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 weaker at 39 cents under the December futures contract while the DTN National Corn Index was up 3 cents at $3.28. The national average basis for soybeans was 4 cents stronger at $1.03 cents under the January futures contract and the DTN National Soybean Index was up 34 cents at $7.79. The national average basis for HRW wheat was 2 cents weaker at 35 cents under the December futures contract while the DTN National Hard Red Winter Wheat Index was up 5 cents at $4.66. The national average basis for HRS wheat was 2 cents stronger at 48 cents under the December futures contract, while the DTN National Hard Red Spring Wheat Index was up 9 cents at $5.29.

DAILY BASIS CHART:

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.28 $0.03 -$0.39 Dec -$0.004
Soybeans: $7.79 $0.34 -$1.03 Jan $0.042
SRW Wheat: $4.75 $0.06 -$0.33 Dec -$0.017
HRW Wheat: $4.66 $0.05 -$0.35 Dec -$0.026
HRS Wheat: $5.29 $0.09 -$0.48 Dec $0.020

CORN:

The DTN National Corn Index for Thursday indicated a national average basis of 39 cents under the Chicago December futures contract, 1 cent weaker than Wednesday's basis.

SOYBEANS:

The DTN National Soybean Index for Thursday indicated a national average basis of $1.03 under the Chicago November futures contract, 4 cents stronger than Wednesday's basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter Wheat Index for Thursday indicated a national average basis of 33 cents under the Chicago January futures, 1 cent weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter Wheat Index for Thursday indicated a national average basis of 35 cents under the Kansas City December futures contract, 2 cents weaker than Wednesday's basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring Wheat Index for Thursday indicated a national average basis of 48 cents under the Minneapolis December futures contract, 2 cents stronger than Wednesday'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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