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 is 1 cent weaker at 9 cents over the March futures contract, while the DTN National Corn Index is up 15 cents at $6.80. The national average basis for soybeans is 1 cent weaker at 28 cents under the March futures contract while the DTN National Soybean Index is up 24 cents at $14.90. The national average basis for hard red winter (HRW) wheat is 2 cents stronger at 30 cents under the March futures contract while the DTN National Hard Red Winter Wheat Index is up 14 cents at $8.05. The national average basis for hard red spring (HRS) wheat is 3 cents stronger at 20 cents under the March futures contract while the DTN National Hard Red Spring Wheat Index is up 16 cents at $8.93.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.80 $0.15 $0.09 Mar -$0.003
Soybeans: $14.90 $0.24 -$0.28 Mar -$0.015
SRW Wheat: $7.02 $0.06 -$0.40 Mar $0.033
HRW Wheat: $8.05 $0.14 -$0.30 Mar $0.017
HRS Wheat: $8.93 $0.16 -$0.20 Mar $0.029

CORN:

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

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SOYBEANS:

The national average soybean basis for Thursday is 28 cents under the March futures, 1 cent weaker than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is 40 cents under the March futures, 4 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is 30 cents under the Kansas City March futures, 2 cents stronger than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is 20 cents under the Minneapolis March futures, 3 cents stronger than Wednesday'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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