DTN Daily Basis Comments

Corn, 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 stronger at 6 cents under the July futures contract, while the DTN National Corn Index was up 8 cents at $7.80. The national average basis for soybeans was 2 cents stronger at 31 cents under the July futures contract while the DTN National Soybean Index was down 16 cents at $16.56. The national average basis for hard red winter (HRW) wheat was unchanged at 54 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 24 cents at $12.22. The national average basis for hard red spring (HRS) wheat was unchanged at 50 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 19 cents at $12.48.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.80 $0.08 -$0.06 Jul $0.006
Soybeans: $16.56 -$0.16 -$0.31 Jul $0.018
SRW Wheat: $11.31 $0.22 -$0.59 Jul $0.004
HRW Wheat: $12.22 $0.24 -$0.54 Jul $0.000
HRS Wheat: $12.48 $0.19 -$0.50 Jul -$0.009

CORN:

The national average corn basis for Monday is 6 cents under the July futures, 1 cent stronger than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 31 cents under the July futures, 1 cent stronger than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 59 cents under the July futures, 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 54 cents under the Kansas City July futures, unchanged from Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 50 cents under the Minneapolis July futures, unchanged from 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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