DTN Daily Basis Comments

Corn Basis Weaker; Soybean Basis Stronger

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 16 cents under the July futures contract, while the DTN National Corn Index up 2 cents at $7.34. The national average basis for soybeans was 1 cent stronger at 43 cents under the July futures contract while the DTN National Soybean Index was up 24 cents at $15.84. The national average basis for hard red winter (HRW) wheat was unchanged at 57 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was down 13 cents at $10.16. The national average basis for hard red spring (HRS) wheat was unchanged at 39 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was down 9 cents at $10.61.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.34 $0.02 -$0.16 Jul -$0.008
Soybeans: $15.84 $0.24 -$0.43 Jul $0.010
SRW Wheat: $9.56 -$0.12 -$0.70 Jul $0.031
HRW Wheat: $10.16 -$0.13 -$0.57 Jul $0.001
HRS Wheat: $10.61 -$0.09 -$0.39 Jul $0.006

CORN:

The national average corn basis for Thursday is 16 cents under the July futures, 1 cent weaker than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 43 cents under the July futures, 1 cent stronger than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is at 70 cents under the July futures, 3 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is at 57 cents under the Kansas City July futures, unchanged from Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 39 cents under the Minneapolis July futures, unchanged from Wednesday'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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