DTN Daily Basis Comments

Corn, Soybean Basis Stronger

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 stronger at 11 cents over the May futures contract, while the DTN National Corn Index was down 3 cents at $6.63. The national average basis for soybeans was 3 cents stronger at 40 cents under the May futures contract, while the DTN National Soybean Index was unchanged at $14.61. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 32 cents under the May futures contract, while the DTN National Hard Red Winter Wheat Index was down 17 cents at $8.13. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 30 cents under the May futures contract, and the DTN National Hard Red Spring Wheat Index was down 11 cents at $8.20.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.63 -$0.03 $0.11 May $0.004
Soybeans: $14.61 $0.00 -$0.40 May $0.029
SRW Wheat: $6.21 -$0.11 -$0.46 May $0.010
HRW Wheat: $8.13 -$0.17 -$0.32 May $0.010
HRS Wheat: $8.20 -$0.11 -$0.30 May -$0.004

CORN:

The national average corn basis for Thursday was 11 cents over the May futures, 1 cent stronger than Wednesday basis.

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SOYBEANS:

The national average soybean basis for Thursday was 40 cents under the May futures, 3 cents stronger than Wednesday basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 46 cents under the May futures, 1 cent stronger than Wednesday basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 32 cents under the Kansas City May futures, 1 cent stronger than Wednesday basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 30 cents under the Minneapolis May futures, 1 cent weaker than Wednesday 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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