DTN Daily Basis Comments
Soybean Basis Drops Again
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent weaker at 83 cents over the September futures contract, while the DTN National Corn Index was unchanged at $7.00. The national average basis for soybeans was 8 cents weaker at 70 cents over the November futures contract while the DTN National Soybean Index was up 20 cents at $15.38. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 50 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 16 cents at $8.25. The national average basis for hard red spring (HRS) wheat was 5 cents weaker at 51 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 27 cents at $8.55.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $7.00 | $0.00 | $0.83 | Sep | -$0.011 |
Soybeans: | $15.38 | $0.20 | $0.70 | Nov | -$0.078 |
SRW Wheat: | $7.49 | -$0.07 | -$0.59 | Sep | $0.021 |
HRW Wheat: | $8.25 | -$0.16 | -$0.50 | Sep | -$0.004 |
HRS Wheat: | $8.55 | -$0.27 | -$0.51 | Sep | -$0.047 |
CORN:
The national average corn basis for Friday is 83 cents over the September futures, 1 cent weaker than Thursday's basis.
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SOYBEANS:
The national average soybean basis for Friday is at 70 cents over the November futures, 8 cents weaker than Thursday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday is at 59 cents under the September futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday is at 50 cents under the Kansas City September futures, 1 cent weaker than Thursday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday is at 51 cents under the Minneapolis September futures, 5 cents weaker than Thursday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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