DTN Daily Basis Comments

Corn, 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 4 cents weaker at 16 cents under the July futures contract, while the DTN National Corn Index was down 19 cents at $7.79. The national average basis for soybeans was 1 cent weaker at 39 cents under the July futures contract while the DTN National Soybean Index was up 2 cents at $16.81. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 57 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was down 27 cents at $10.87. 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 down 18 cents at $11.16.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.79 -$0.19 -$0.16 Jul -$0.043
Soybeans: $16.81 $0.02 -$0.39 Jul -$0.008
SRW Wheat: $10.05 -$0.20 -$0.71 Jul $0.009
HRW Wheat: $10.87 -$0.27 -$0.57 Jul -$0.006
HRS Wheat: $11.16 -$0.18 -$0.38 Jul -$0.002

CORN:

The national average corn basis for Thursday is 16 cents under the July futures, 4 cents weaker than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 39 cents under the July futures, 1 cent weaker than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is at 71 cents under the July futures, 1 cent 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, 1 cent weaker than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 38 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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