DTN Daily Basis Comments

Corn, Soybean Basis Levels Weaken Friday

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 23 cents under the March futures contract while the DTN National Corn Index was up 5 cents at $4.11. The national average basis for soybeans was 1 cent weaker at 49 cents under the January futures contract while the DTN National Soybean Index was up 7 cents at $11.43. The national average basis for HRW wheat was unchanged at 32 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was up 15 cents at $5.33. The national average basis for HRS wheat was 7 cents weaker at 41 cents under the March futures contract while the DTN National Hard Red Spring Wheat Index was up 2 cents at $5.29.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $4.11 $0.05 -$0.23 Mar -$0.009
Soybeans: $11.43 $0.07 -$0.49 Jan -$0.009
SRW Wheat: $5.72 $0.07 -$0.34 Mar -$0.020
HRW Wheat: $5.33 $0.15 -$0.32 Mar $0.000
HRS Wheat: $5.29 $0.02 -$0.41 Mar -$0.069

CORN:

The national average corn basis for Friday is at 23 cents under the March futures, 1 cent weaker than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 49 cents under the January futures, 1 cent weaker than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 34 cents under the March futures, 2 cents weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 32 cents under the Kansas City March futures, unchanged from Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 41 cents under the Minneapolis March futures, 7 cents weaker than Wednesday's basis.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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