DTN Daily Basis Comments

Soybean Basis Weakens Friday

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 21 cents under the September futures contract while the DTN National Corn Index was up 3 cents at $3.06. The national average basis for soybeans was 1 cent weaker at 51 cents under the November futures contract and the DTN National Soybean Index was down 1 cent at $8.54. The national average basis for HRW wheat was steady at 22 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was up 4 cents at $4.24. The national average basis for HRS wheat was unchanged at 36 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was up 3 cents at $4.79.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.06 $0.03 -$0.21 Sep $0.005
Soybeans: $8.54 -$0.01 -$0.51 Nov -$0.009
SRW Wheat: $5.04 $0.08 -$0.23 Sep -$0.002
HRW Wheat: $4.24 $0.04 -$0.22 Sep $0.001
HRS Wheat: $4.79 $0.03 -$0.36 Sep $0.009

CORN:

The national average corn basis for Friday is at 21 cents under the September futures, unchanged from Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 51 cents under the November futures, 1 cent weaker than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 23 cents under the September futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 22 cents under the Kansas City September futures, unchanged from Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 36 cents under the Minneapolis September futures, unchanged from Thursday'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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