DTN Daily Basis Comments

Limit Up Corn Futures Weakens Corn Basis

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 2 cents weaker at 17 cents under the March futures contract while the DTN National Corn Index was up 23 cents at $5.00. The national average basis for soybeans was unchanged at 43 cents under the March futures contract while the DTN National Soybean Index was up cents at $13.75. The national average basis for HRW wheat was unchanged at 26 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was up 28 at $5.96. The national average basis for HRS wheat was 2 cents weaker at 27 cents under the March futures contract and the DTN National Hard Red Spring Wheat Index was up 13 cents at $5.94.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $5.00 $0.23 -$0.17 Mar -$0.023
Soybeans: $13.75 $0.45 -$0.43 Mar -$0.005
SRW Wheat: $6.47 $0.30 -$0.18 Mar -$0.004
HRW Wheat: $5.96 $0.28 -$0.26 Mar -$0.010
HRS Wheat: $5.94 $0.13 -$0.27 Mar -$0.015

CORN:

The national average corn basis for Tuesday is at 17 cents under the March futures, 2 cents weaker than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 43 cents under the March futures, unchanged from Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 18 cents under the March futures, 1 cent weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 26 cents under the Kansas City March futures, unchanged from Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday is at 27 cents under the Minneapolis March futures, 2 cents weaker than Monday'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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