DTN Daily Basis Comments

Corn, Soybean Basis Weaken Again Wednesday

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 2 cents weaker at 20 cents over the December futures contract, while the DTN National Corn Index was down 13 cents at $7.02. The national average basis for soybeans was 5 cents weaker at 6 cents under the November futures contract and the DTN National Soybean Index was down 29 cents at $14.49. The national average basis for hard red winter (HRW) wheat was unchanged at 42 cents under the December futures contract while the DTN National Hard Red Winter Wheat Index was up 14 cents at $9.05. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 53 cents under the December futures contract and the DTN National Hard Red Spring Wheat Index was up 8 cents at $8.85.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.02 -$0.13 $0.20 Dec -$0.023
Soybeans: $14.49 -$0.29 -$0.06 Nov -$0.050
SRW Wheat: $8.11 $0.12 -$0.61 Dec $0.001
HRW Wheat: $9.05 $0.14 -$0.42 Dec $0.005
HRS Wheat: $8.85 $0.08 -$0.53 Dec $0.011

CORN:

The national average corn basis for Wednesday is 20 cents over the December futures, 2 cents weaker than Tuesday's basis.

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SOYBEANS:

The national average soybean basis for Wednesday is 6 cents under the November futures, 5 cents weaker than Tuesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is 61 cents under the December futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday is 42 cents under the Kansas City December futures, unchanged from Tuesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday is 53 cents under the Minneapolis December futures, 1 cent weaker than Tuesday'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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