DTN Daily Basis Comments

Basis Levels Sharply Lower Thursday

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
Connect with Mary:

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 14 cents weaker at 32 cents under the May futures contract, while the DTN National Corn Index was up 8 cents at $7.15. The national average basis for soybeans was 8 cents weaker at 56 cents under the May futures contract and the DTN National Soybean Index was down 3 cents at $16.12. The national average basis for hard red winter (HRW) wheat was 21 cents weaker at 46 cents under the May futures contract while the DTN National Hard Red Winter Wheat Index was up 54 cents at $11.04. The national average basis for hard red spring (HRS) wheat was 11 cents weaker at 39 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was up 50 cents at $10.79.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.15 $0.08 -$0.32 May -$0.146
Soybeans: $16.12 -$0.03 -$0.56 May -$0.079
SRW Wheat: $10.11 $0.22 -$1.23 May -$0.531
HRW Wheat: $11.04 $0.54 -$0.46 May -$0.210
HRS Wheat: $10.79 $0.50 -$0.39 May -$0.104

CORN:

The national average corn basis for Thursday is 32 cents under the May futures, 14 cents weaker than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 56 cents under the May futures, 8 cents weaker than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is at 70 cents under the May futures, 35 cents weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is at 46 cents under the Kansas City May futures, 21 cents weaker than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 39 cents under the Minneapolis May futures, 11 cents weaker than Wednesday's basis.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
Connect with Mary: