DTN Daily Basis Comments
Soybean Basis Weaker
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent weaker at 43 cents over the September futures contract, while the DTN National Corn Index was up 11 cents at $7.12. The national average basis for soybeans was 1 cent weaker at 47 cents over the November futures contract while the DTN National Soybean Index was up 29 cents at $15.07. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 47 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 13 cents at $8.36. The national average basis for hard red spring (HRS) wheat was 4 cents weaker at 51 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was up 8 cents at $8.44.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $7.12 | $0.11 | $0.43 | Sep | -$0.005 |
Soybeans: | $15.07 | $0.29 | $0.46 | Nov | -$0.011 |
SRW Wheat: | $7.34 | $0.19 | -$0.51 | Sep | $0.041 |
HRW Wheat: | $8.36 | $0.13 | -$0.47 | Sep | -$0.015 |
HRS Wheat: | $8.44 | $0.08 | -$0.51 | Sep | -$0.041 |
CORN:
The national average corn basis for Friday is 43 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 46 cents over the November futures, 1 cent weaker than Thursday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday is at 51 cents under the September futures, 4 cents stronger than Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday is at 47 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, 4 cents weaker than Thursday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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