DTN Daily Basis Comments
Corn Basis Falls Again
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 5 cents weaker at 64 cents over the September futures contract, while the DTN National Corn Index was up 6 cents at $6.99. The national average basis for soybeans was 4 cents weaker at 50 cents over the November futures contract while the DTN National Soybean Index was up 1 cent at $15.04. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 48 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 2 cents at $8.41. The national average basis for hard red spring (HRS) wheat was 4 cents weaker at 54 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 6 cents at $8.66.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $6.99 | $0.06 | $0.59 | Sep | -$0.044 |
Soybeans: | $15.04 | $0.01 | $0.50 | Nov | -$0.047 |
SRW Wheat: | $7.50 | -$0.05 | -$0.56 | Sep | $0.001 |
HRW Wheat: | $8.41 | -$0.02 | -$0.48 | Sep | -$0.020 |
HRS Wheat: | $8.66 | -$0.06 | -$0.54 | Sep | -$0.041 |
CORN:
The national average corn basis for Friday is 59 cents over the September futures, 5 cents weaker than Thursday's basis.
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SOYBEANS:
The national average soybean basis for Friday is at 50 cents over the November futures, 4 cents weaker than Thursday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday is at 56 cents under the September futures, unchanged from Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday is at 48 cents under the Kansas City September futures, 2 cents weaker than Thursday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday is at 54 cents under the Minneapolis September futures, 4 cents weaker than Thursday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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