DTN Daily Basis Comments

Corn Basis Weaker; Soybean Basis Stronger Ahead of Long Weekend

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 18 cents under the March futures contract while the DTN National Corn Index was down 3 cents at $5.21. The national average basis for soybeans was 1 cent stronger at 42 cents under the March futures contract while the DTN National Soybean Index was up 5 cents at $13.30. The national average basis for HRW wheat was 1 cent weaker at 26 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index was up 5 cents at $5.91. The national average basis for HRS wheat was 1 cent stronger at 27 cents under the March futures contract while the DTN National Hard Red Spring Wheat Index was unchanged at $5.89.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $5.21 -$0.03 -$0.18 Mar -$0.003
Soybeans: $13.30 $0.05 -$0.42 Mar $0.006
SRW Wheat: $6.19 $0.03 -$0.18 Mar -$0.003
HRW Wheat: $5.91 $0.05 -$0.26 Mar -$0.005
HRS Wheat: $5.89 $0.00 -$0.27 Mar $0.006

CORN:

The national average corn basis for Friday is at 18 cents under the March futures, 1 cent weaker than Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 42 cents under the March futures, 1 cent stronger than Thursday's basis.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 26 cents under the Kansas City March futures, 1 cent weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 27 cents under the Minneapolis March futures, 1 cent stronger than Thursday'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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