DTN Daily Basis Comments

Corn, 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 weaker at 9 cents over the December futures contract, while the DTN National Corn Index was down 13 cents at $6.86. The national average basis for soybeans was 3 cents weaker at 35 cents under the November futures contract and the DTN National Soybean Index was down 34 cents at $13.90. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 44 cents under the December futures contract while the DTN National Hard Red Winter Wheat Index was down 31 cents at $9.07. The national average basis for hard red spring (HRS) wheat was 4 cents weaker at 57 cents under the December futures contract and the DTN National Hard Red Spring Wheat Index was down 32 cents at $8.93.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.86 -$0.13 $0.09 Dec -$0.011
Soybeans: $13.90 -$0.34 -$0.35 Nov -$0.029
SRW Wheat: $8.15 -$0.29 -$0.66 Dec $0.011
HRW Wheat: $9.07 -$0.31 -$0.44 Dec -$0.019
HRS Wheat: $8.93 -$0.32 -$0.57 Dec -$0.035

CORN:

The national average corn basis for Friday is 9 cents over the December futures, 1 cent weaker than Thursday's basis.

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SOYBEANS:

The national average soybean basis for Friday is 35 cents under the November futures, 3 cents weaker than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is 66 cents under the December futures, 1 cent stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is 44 cents under the Kansas City December futures, 2 cents weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is 57 cents under the Minneapolis December futures, 4 cents 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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