DTN Daily Basis Comments

Soybean, Corn 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 one cent weaker at 21 cents under the September futures contract while the DTN National Corn Index was up 1 cent at $2.96. The national average basis for soybeans was 2 cents weaker at 49 cents under the November futures contract while the DTN National Soybean Index was up 2 cents at $8.47. The national average basis for HRW wheat was 2 cents weaker at 22 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 14 cents at $4.09. The national average basis for HRS wheat was 3 cents stronger at 35 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 5 cents at $4.71.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $2.96 $0.01 -$0.22 Sep -$0.002
Soybeans: $8.47 $0.02 -$0.49 Nov -$0.020
SRW Wheat: $5.04 -$0.06 -$0.17 Sep $0.038
HRW Wheat: $4.09 -$0.14 -$0.22 Sep -$0.021
HRS Wheat: $4.71 -$0.05 -$0.35 Sep $0.026

CORN:

The national average corn basis for Monday is at 22 cents under the September futures, 1 cent weaker than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 49 cents under the November futures, 2 cents weaker than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 17 cents under the September futures, 4 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 22 cents under the Kansas City September futures, 2 cents weaker than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 35 cents under the Minneapolis September futures, 3 cents stronger than Friday's basis.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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