DTN Daily Basis Comments

Corn Basis Stronger

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 stronger at 12 cents under the May futures contract while the DTN National Corn Index was up 1 cent at $5.27. The national average basis for soybeans was unchanged at 35 cents under the May futures contract while the DTN National Soybean Index was unchanged at $13.78. The national average basis for HRW wheat was unchanged at 26 cents under the May futures contract while the DTN National Hard Red Winter Wheat Index was down 1 cent at $5.77. The national average basis for HRS wheat was 1 cent weaker at 33 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was down 1 cent at $6.01.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $5.27 $0.01 -$0.12 May $0.003
Soybeans: $13.78 $0.00 -$0.35 May $0.003
SRW Wheat: $6.16 -$0.04 -$0.23 May $0.003
HRW Wheat: $5.77 -$0.01 -$0.26 May -$0.004
HRS Wheat: $6.01 -$0.01 -$0.33 May -$0.007

CORN:

The national average corn basis for Friday is at 12 cents under the May futures, 1 cent stronger than Thursday's basis.

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SOYBEANS:

The national average soybean basis for Friday is at 35 cents under the May futures, unchanged from Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 23 cents under the 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, unchanged from Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 33 cents under the Minneapolis May futures, 1 cent weaker than Thursday's basis.

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

Follow her on Twitter @MaryCKenn

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Mary Kennedy

Mary Kennedy
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