DTN Daily Basis Comments

Corn, Soybean Basis Steady

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 unchanged at 10 cents over the March futures contract, while the DTN National Corn Index is up 2 cents at $6.87. The national average basis for soybeans is unchanged at 34 cents under the March futures contract while the DTN National Soybean Index is down 2 cents at $14.98. The national average basis for hard red winter (HRW) wheat is 1 cent weaker at 30 cents under the March futures contract and the DTN National Hard Red Winter Wheat Index is down 9 cents at $8.43. The national average basis for hard red spring (HRS) wheat is 3 cents weaker at 26 cents under the March futures contract and the DTN National Hard Red Spring Wheat Index is down 7 cents at $8.95.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.87 $0.02 $0.10 Mar -$0.002
Soybeans: $14.98 -$0.02 -$0.34 Mar -$0.002
SRW Wheat: $7.12 -$0.05 -$0.45 Mar -$0.004
HRW Wheat: $8.43 -$0.09 -$0.30 Mar -$0.015
HRS Wheat: $8.95 -$0.07 -$0.26 Mar -$0.034

CORN:

The national average corn basis for Friday is 10 cents over the March futures, unchanged from Thursday's basis.

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SOYBEANS:

The national average soybean basis for Friday is 34 cents under the March futures, unchanged from Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is 45 cents under the March futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is 30 cents under the Kansas City March futures, 1 cent weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is 26 cents under the Minneapolis March futures, 3 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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