Soybean Basis Weaker
Soybean basis was weaker and spring wheat basis was stronger Wednesday, while corn, hard red winter wheat and soft red winter wheat basis was steady.
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was unchanged at 42 cents under the December futures contract, while the DTN National Corn Index was down 1 cent at $4.92. The national average basis for soybeans was 1 cent weaker at 57 cents under the November futures, while the DTN National Soybean Index was up 1 cent at $12.64. The national average basis for hard red winter (HRW) wheat was steady at 68 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was up 4 cents at $7.32. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 60 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was up 8 cents at $6.96.
| DTN Cash | Change From | National | Contract | Change from | |
| Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
| Corn: | $4.92 | -$0.01 | -$0.42 | Dec | $0.003 |
| Soybeans: | $12.64 | $0.01 | -$0.57 | Nov | -$0.011 |
| SRW Wheat: | $6.59 | $0.02 | -$0.72 | Dec | -$0.003 |
| HRW Wheat: | $7.32 | $0.04 | -$0.68 | Dec | $0.004 |
| HRS Wheat: | $6.96 | $0.08 | -$0.60 | Dec | $0.006 |
CORN:
The national average corn basis for Wednesday was 42 cents under the December futures, unchanged from Tuesday’s basis.
SOYBEAN:
The national average soybean basis for Wednesday was 57 cents under the November futures, 1 cent 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 68 cents under the Kansas City December futures, unchanged from Tuesday’s basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Wednesday was 60 cents under the MIAX Minneapolis December futures 1 cent stronger than Tuesday’s basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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