DTN Daily Basis Comments

Corn, Soybean and SRW Basis Stronger; HRW, HRS 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 stronger at 33 cents under the March futures contract while the DTN National Corn Index was up 1 cent at $3.42. The national average basis for soybeans was also 1 cent stronger at 94 cents under the March futures contract while the DTN National Soybean Index was up 1 cent at $8.01. The national average basis for HRW wheat was 3 cents weaker at 31 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was down 10 cents at $4.58. The national average basis for HRS wheat was 5 cents weaker at 43 cents under the March futures contract and the DTN National Hard Red Spring Wheat Index was down 6 cents at $5.06.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.42 $0.01 -$0.33 Mar $0.011
Soybeans: $8.01 $0.01 -$0.94 Mar $0.010
SRW Wheat: $4.78 -$0.06 -$0.26 Mar $0.023
HRW Wheat: $4.58 -$0.10 -$0.31 Mar -$0.029
HRS Wheat: $5.06 -$0.06 -$0.43 Mar -$0.049

CORN:

The DTN National Corn Index for Monday indicated a national average basis of 33 cents under the Chicago March futures contract, 1 cent stronger from Friday's basis.

SOYBEANS:

The DTN National Soybean Index for Monday indicated a national average basis of 94 cents under the Chicago March futures contract, 1 cent stronger from Friday's basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter Wheat Index for Monday indicated a national average basis of 26 cents under the Chicago March futures, 2 cents stronger from Friday's basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter Wheat Index for Monday indicated a national average basis of 31 cents under the Kansas City March futures contract, 3 cents weaker from Friday's basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring Wheat Index for Monday indicated a national average basis of 43 cents under the Minneapolis March futures contract, 5 cents weaker than Friday'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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