DTN Daily Basis Comments

Soybean 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 unchanged at 27 cents under the May futures contract while the DTN National Corn Index was down 3 cents at $3.46. The national average basis for soybeans was 1 cent weaker at 88 cents under the May futures contract while the DTN National Soybean Index was down 13 cents at $8.00. The national average basis for HRW wheat was unchanged at 15 cents under the May futures contract while the DTN National Hard Red Winter Wheat Index was up 1 cent at $4.30. The national average basis for HRS wheat was unchanged at 33 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was unchanged at $5.35.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.46 -$0.03 -$0.27 May $0.000
Soybeans: $8.00 -$0.13 -$0.88 May -$0.001
SRW Wheat: $4.44 $0.00 -$0.25 May -$0.002
HRW Wheat: $4.30 $0.01 -$0.15 May $0.001
HRS Wheat: $5.35 $0.00 -$0.33 May -$0.001

CORN:

The DTN National Corn Index for Thursday indicated a national average basis of 27 cents under the Chicago May futures contract, unchanged from Monday's basis.

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SOYBEANS:

The DTN National Soybean Index for Thursday indicated a national average basis of 88 cents under the Chicago May futures contract, 1 cent weaker than Monday's basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter (SRW) Wheat Index for Thursday indicated a national average basis of 25 cents under the Chicago May futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter (HRW) Wheat Index for Thursday indicated a national average basis of 15 cents under the Kansas City May futures contract, unchanged from Monday's basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring (HRS) Wheat Index for Thursday indicated a national average basis of 33 cents under the Minneapolis May futures contract, unchanged from Monday'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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