DTN Daily Basis Comments

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 27 cents under the May futures contract while the DTN National Corn Index was down 3 cents at $3.04. The national average basis for soybeans was 1 cent stronger at 45 cents under the May futures contract while the DTN National Soybean Index was down 4 cents at $8.09. The national average basis for HRW wheat was 3 cents weaker at 26 cents under the May futures contract while the DTN National Hard Red Winter Wheat Index was up 5 cents at $4.46. The national average basis for HRS wheat was 8 cents weaker at 17 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was down 3 cents at $5.07.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.04 -$0.03 -$0.27 May -$0.003
Soybeans: $8.09 -$0.04 -$0.45 May $0.004
SRW Wheat: $5.35 $0.08 -$0.14 May $0.000
HRW Wheat: $4.46 $0.05 -$0.26 May -$0.029
HRS Wheat: $5.07 -$0.03 -$0.17 May -$0.080

CORN:

The national average corn basis for Friday is at 27 cents under the May futures, 1 cent weaker than Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 45 cents under the May futures, 1 cent stronger than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 14 cents under the Chicago May futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 26 cents under the Kansas City May futures, 3 cents weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 17 cents under the Minneapolis May futures, 8 cents weaker than Thursday'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
Connect with Mary: