DTN Daily Basis Comments

Corn Basis Stronger; Soybean Basis Weaker

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 10 cents under the May futures contract while the DTN National Corn Index was up 25 cents at $6.70. The national average basis for soybeans was 2 cents weaker at 24 cents under the May futures contract while the DTN National Soybean Index was up 28 cents at $15.45. The national average basis for HRW wheat was 1 cent stronger at 21 cents under the May futures contract while the DTN National Hard Red Winter Wheat Index was up 30 cents at $6.81. The national average basis for HRS wheat was 1 cent stronger at 26 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was up 24 cents at $7.16.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.70 $0.25 -$0.10 May $0.001
Soybeans: $15.45 $0.28 -$0.24 May -$0.015
SRW Wheat: $7.22 $0.29 -$0.17 May $0.001
HRW Wheat: $6.81 $0.30 -$0.21 May $0.010
HRS Wheat: $7.16 $0.24 -$0.26 May $0.012

CORN:

The national average corn basis for Monday is at 10 cents under the May futures, 1 cent stronger than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 24 cents under the May futures, 2 cents weaker than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 17 cents under the May futures, 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 21 cents under the Kansas City May futures, 1 cent stronger than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 26 cents under the Minneapolis May futures, 1 cent stronger than Friday'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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