Soybean, Hard Red Winter Wheat Basis Levels Strengthen on Wednesday
Soybean and hard red winter wheat basis levels strengthened on Wednesday, while corn, soft red winter wheat and hard red spring wheat basis held steady.
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was steady at 37 cents under the May futures contract, while the DTN National Corn Index was up 8 cents at $4.14. The national average basis for soybeans was 1 cent stronger at 66 cents under the May futures, and the DTN National Soybean Index was up 9 cents at $11.01. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 69 cents under the May futures contract, and the DTN National Hard Red Winter Wheat Index was up 4 cents at $5.56. The national average basis for hard red spring (HRS) wheat was steady at 36 cents under the MIAX Minneapolis May futures contract, while the DTN National Hard Red Spring Wheat Index was up 2 cents at $6.04.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.14 | $0.08 | -$0.37 | May | -$0.002 |
| Soybeans: | $11.01 | $0.09 | -$0.66 | May | $0.005 |
| SRW Wheat: | $5.37 | $0.01 | -$0.56 | May | -$0.005 |
| HRW Wheat: | $5.56 | $0.04 | -$0.69 | May | $0.008 |
| HRS Wheat: | $6.04 | $0.02 | -$0.36 | May | $0.001 |
CORN:
The national average corn basis for Wednesday was 37 cents under the May futures, unchanged from Tuesday’s basis.
SOYBEAN:
The national average soybean basis for Wednesday was 66 cents under the May futures, 1 cent stronger than Tuesday’s basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Wednesday was 56 cents under the May futures, unchanged from Tuesday’s basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Wednesday was 69 cents under the Kansas City May futures, 1 cent stronger than Tuesday’s basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 36 cents under the MIAX Minneapolis May futures, unchanged from Tuesday’s basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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