DTN Daily Basis Comments

Corn and All Wheat Basis Moved to July Monday

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 5 cents weaker at 13 cents under the July futures contract, while the DTN National Corn Index was up 1 cent at $7.14. The national average basis for soybeans was unchanged at 66 cents under the May futures contract while the DTN National Soybean Index was down 1 cent at $15.94. The national average basis for hard red winter (HRW) wheat was 14 cents weaker at 77 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 45 cents at $11.57. The national average basis for hard red spring (HRS) wheat was 14 cents weaker at 46 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 33 cents at $11.22.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.14 $0.01 -$0.13 Jul -$0.054
Soybeans: $15.94 -$0.01 -$0.66 May $0.000
SRW Wheat: $10.97 $0.74 -$1.55 Jul -$0.033
HRW Wheat: $11.57 $0.45 -$0.77 Jul -$0.140
HRS Wheat: $11.22 $0.33 -$0.46 Jul -$0.140

CORN:

The national average corn basis for Monday is 13 cents under the July futures, 5 cents weaker than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 66 cents under the May futures, unchanged from Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at $1.55 under the July futures, 3 cents weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 77 cents under the Kansas City July futures, 14 cents weaker than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 46 cents under the Minneapolis July futures, 14 cents weaker than Friday basis.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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