DTN Daily Basis Comments

Corn Basis Stronger, Soybean Basis Weaker

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 19 cents under the July futures contract while the DTN National Corn Index was down unchanged at $2.98. The national average basis for soybeans was 1 cent weaker at 47 cents under the July futures contract while the DTN National Soybean Index was down 5 cents at $8.18. The national average basis for HRW wheat was 3 cents stronger at 20 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was down 5 cents at $4.02. The national average basis for HRS wheat was 7 cents stronger at 22 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was down 10 cents at $4.76.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $2.98 $0.00 -$0.19 Jul $0.003
Soybeans: $8.18 -$0.05 -$0.47 Jul -$0.008
SRW Wheat: $4.55 -$0.12 -$0.19 Jul $0.007
HRW Wheat: $4.02 -$0.05 -$0.20 Jul $0.030
HRS Wheat: $4.76 -$0.06 -$0.22 Jul $0.068

CORN:

The national average corn basis for Friday is at 19 cents under the July futures, 1 cent stronger than Thursday’s basis.

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SOYBEANS:

The national average soybean basis for Friday is at 47 cents under the July futures, 1 cent weaker than Thursday’s basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 19 cents under the Chicago July futures, 1 cent stronger than Thursday’s basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 20 cents under the Kansas City July futures, 3 cents stronger than Thursday’s basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 22 cents under the Minneapolis July futures, 7 cents stronger than Thursday’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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