DTN Daily Basis Comments

Corn Basis Steady, 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 unchanged at 14 cents under the July futures contract, while the DTN National Corn Index was down 4 cents at $7.17. The national average basis for soybeans was1 1 cent weaker at 45 cents under the July futures contract while the DTN National Soybean Index was down 45 cents at $16.01. The national average basis for hard red winter (HRW) wheat was 4 cents stronger at 62 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was down 34 cents at $10.07. The national average basis for hard red spring (HRS) wheat was 4 cents stronger at 42 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was down 21 cents at $10.36.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.17 -$0.04 -$0.14 Jul -$0.001
Soybeans: $16.01 -$0.43 -$0.45 Jul -$0.010
SRW Wheat: $9.73 -$0.33 -$0.79 Jul $0.079
HRW Wheat: $10.07 -$0.34 -$0.62 Jul $0.037
HRS Wheat: $10.36 -$0.21 -$0.42 Jul $0.035

CORN:

The national average corn basis for Monday is 14 cents under the July futures, unchanged from Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 45 cents under the July futures, 1 cent weaker than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 79 cents under the July futures, 8 cents stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 62 cents under the Kansas City July futures, 4 cents stronger than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 42 cents under the Minneapolis July futures, 4 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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