DTN Daily Basis Comments

Soybean Basis Weakens Wednesday

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 14 cents under the March futures contract while the DTN National Corn Index was up 8 cents at $4.60. The national average basis for soybeans was 1 cent weaker at 45 cents under the January futures contract while the DTN National Soybean Index was up 7 cents at $12.59. The national average basis for HRW wheat was 1 cent weaker at 27 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was up 16 cents at $5.74. The national average basis for HRS wheat was 1 cent stronger at 26 cents under the March futures contract and the DTN National Hard Red Spring Wheat Index was up 16 cents at $5.70.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $4.60 $0.08 -$0.14 Mar $0.000
Soybeans: $12.59 $0.07 -$0.45 Jan -$0.009
SRW Wheat: $6.22 $0.22 -$0.19 Mar -$0.006
HRW Wheat: $5.74 $0.16 -$0.27 Mar -$0.006
HRS Wheat: $5.70 $0.16 -$0.26 Mar $0.003

CORN:

The national average corn basis for Wednesday is at 14 cents under the March futures, unchanged from Tuesday's basis.

SOYBEANS:

The national average soybean basis for Wednesday is at 45 cents under the January futures, 1 cent weaker than Tuesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is at 19 cents under the March futures, 1 cent weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday is at 27 cents under the Kansas City March futures, 1 cent weaker than Tuesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday is at 26 cents under the Minneapolis March futures, 1 cent stronger than Tuesday'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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