DTN Daily Basis Comments

Basis Demise Continues, Especially Winter Wheat 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 9 cents weaker at 41 cents under the May futures contract, while the DTN National Corn Index was down 2 cents at $7.14. The national average basis for soybeans was 10 cents weaker at 66 cents under the May futures contract and the DTN National Soybean Index was down 17 cents at $15.95. The national average basis for hard red winter (HRW) wheat was 57 cents weaker at $1.03 under the May futures contract while the DTN National Hard Red Winter Wheat Index was up 8 cents at $11.12. The national average basis for hard red spring (HRS) wheat was 19 cents weaker at 58 cents under the May futures contract while the DTN National Hard Red Spring Wheat Index was up 10 cents at $10.89.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.14 -$0.02 -$0.41 May -$0.082
Soybeans: $15.95 -$0.17 -$0.66 May -$0.097
SRW Wheat: $10.23 $0.12 -$1.86 May -$0.630
HRW Wheat: $11.12 $0.08 -$1.03 May -$0.564
HRS Wheat: $10.89 $0.10 -$0.58 May -$0.190

CORN:

The national average corn basis for Friday is 41 cents under the May futures, 9 cents weaker than Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 66 cents under the May futures, 10 cents weaker than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at $1.86 under the May futures, 63 cents weaker than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at $1.03 under the Kansas City May futures, 57 cents weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 58 cents under the Minneapolis May futures, 19 cents weaker 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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