DTN Daily Basis Comments

Corn Basis Weakens Tuesday

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 weaker at 13 cents under the July futures contract, while the DTN National Corn Index was unchanged at $7.17. The national average basis for soybeans was steady at 47 cents under the July futures contract while the DTN National Soybean Index was up 7 cents at $16.32. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 66 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 9 cents at $10.44. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 45 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was up 9 cents at $10.46.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.17 $0.00 -$0.13 Jul -$0.016
Soybeans: $16.32 $0.07 -$0.47 Jul $0.000
SRW Wheat: $10.07 $0.04 -$0.94 Jul -$0.045
HRW Wheat: $10.44 $0.09 -$0.66 Jul $0.020
HRS Wheat: $10.46 $0.09 -$0.45 Jul $0.013

CORN:

The national average corn basis for Tuesday is 13 cents under the July futures, 1 cent weaker than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 47 cents under the July futures, unchanged from Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 94 cents under the July futures, 4 cents weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 66 cents under the Kansas City July futures, 2 cents stronger than Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday is at 45 cents under the Minneapolis July futures, 1 cent stronger than Monday'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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