DTN Daily Basis Comments

Soybean, Corn 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 was unchanged at 24 cents under the July futures contract while the DTN National Corn Index was unchanged at $3.00. The national average basis for soybeans was unchanged at 46 cents under the July futures contract while the DTN National Soybean Index was up 7 cents at $8.12. The national average basis for HRW wheat was 1 cent weaker at 25 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 5 cents at $4.32. The national average basis for HRS wheat was 5 cents weaker at 30 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was down 1 cent at $4.90.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.00 $0.00 -$0.24 Jul $0.003
Soybeans: $8.12 $0.07 -$0.46 Jul $0.001
SRW Wheat: $4.91 $0.03 -$0.21 Jul -$0.009
HRW Wheat: $4.32 $0.05 -$0.25 Jul -$0.016
HRS Wheat: $4.90 -$0.01 -$0.30 Jul -$0.050

CORN:The national average corn basis for Wednesday is at 24 cents under the July futures, unchanged from Tuesday’s basis.

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SOYBEANS:The national average soybean basis for Wednesday is at 46 cents under the July futures, unchanged from Tuesday’s basis.

SOFT RED WINTER WHEAT:The national average SRW wheat basis for Wednesday is at 21 cents under the Chicago July futures, 1 cent weaker than Tuesday’s basis.

HARD RED WINTER WHEAT:The national average HRW wheat basis for Wednesday is at 25 cents under the Kansas City July futures, 1 cent weaker than Tuesday’s basis.

HARD RED SPRING WHEAT:The national average HRS wheat basis for Wednesday is at 30 cents under the Minneapolis July futures, 5 cents weaker than Tuesday’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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