DTN Daily Basis Comments

Corn, Soybean Basis Stronger Wednesday

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 stronger at 16 cents under the July futures contract, while the DTN National Corn Index was up 6 cents at $7.62. The national average basis for soybeans was 1 cent stronger at 45 cents under the July futures contract while the DTN National Soybean Index was up 5 cents at $16.20. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 58 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 12 cents at $11.20. The national average basis for hard red spring (HRS) wheat was unchanged at 38 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 3 cents at $11.21.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.62 $0.06 -$0.16 Jul $0.009
Soybeans: $16.20 $0.05 -$0.45 Jul $0.008
SRW Wheat: $10.47 $0.09 -$0.74 Jul $0.003
HRW Wheat: $11.20 $0.12 -$0.58 Jul $0.004
HRS Wheat: $11.21 $0.03 -$0.38 Jul $0.001

CORN:

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

SOYBEANS:

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

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is at 74 cents under the July futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Wednesday is at 58 cents under the Kansas City July futures, 1 cent stronger than Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday is at 38 cents under the Minneapolis July futures, unchanged from 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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