DTN Daily Basis Comments

Corn 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 45 cents under the December futures contract, while the DTN National Corn Index was down 1 cent at $4.99. The national average basis for soybeans was 1 cent weaker at 48 cents under the November futures, while the DTN National Soybean Index was down 9 cents at $12.62. The national average basis for hard red winter (HRW) wheat was 9 cents weaker at 70 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 20 cents at $7.64. The national average basis for hard red spring (HRS) wheat was steady at 55 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 6 cents at $7.27.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $4.99 -$0.01 -$0.45 Dec $0.014
Soybeans: $12.62 -$0.09 -$0.48 Nov -$0.014
SRW Wheat: $7.02 -$0.08 -$0.72 Dec $0.000
HRW Wheat: $7.64 -$0.20 -$0.70 Dec -$0.094
HRS Wheat: $7.27 $0.06 -$0.55 Dec $0.007

CORN:

The national average corn basis for Wednesday was 45 cents under the December futures, 1 cent stronger than Tuesday's basis.

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SOYBEAN:

The national average soybean basis for Wednesday was 48 cents under the November futures, 1 cents weaker than Tuesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday was 72 cents under the December futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday was 70 cents under the Kansas City December futures, 9 cents weaker than Tuesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday was 55 cents under the MIAX Minneapolis December futures, unchanged from Tuesday's basis.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow her on social platform X @MaryCKenn

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Mary Kennedy

Mary Kennedy
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