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 16 cents under the July futures contract, while the DTN National Corn Index was down 2 cents at $7.43. The national average basis for soybeans was 3 cents weaker at 45 cents under the July futures contract while the DTN National Soybean Index was down 30 cents at $15.96. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 60 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 34 cents at $10.85. The national average basis for hard red spring (HRS) wheat was 4 cents stronger at 38 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was up 18 cents at $11.02.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.43 -$0.02 -$0.16 Jul -$0.005
Soybeans: $15.96 -$0.30 -$0.45 Jul -$0.024
SRW Wheat: $10.16 $0.30 -$0.73 Jul -$0.004
HRW Wheat: $10.85 $0.34 -$0.60 Jul -$0.016
HRS Wheat: $11.02 $0.18 -$0.38 Jul $0.039

CORN:

The national average corn basis for Monday is 16 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, 3 cents weaker than Friday's basis

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 73 cents under the July futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 60 cents under the Kansas City July futures, 1 cents weaker than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 38 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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