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DTN's Daily Basis Comments

DTN Daily Basis Comments

Corn, HRW, HRS Wheat Basis Stronger; Soybean Basis Steady

The national average basis for corn was 1 cent stronger at 41 cents under the July futures contract while the DTN National Corn Index was up 3 cents at $3.28. The national average basis for soybeans was unchanged at 79 cents under the July futures contract while the DTN National Soybean Index was up 1 cents at $8.79. The national average basis for HRW wheat was 1 cent stronger at 97 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was up 10 cents at $3.37. The national average basis for HRS wheat was 2 cents stronger at 46 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 4 cents at $5.07.

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MyDTN Premium Content Spotlight:

Market Strategies

CORN Strategies Snapshot

Closing Futures Price & Change

Electronic Corn (@C)
May 17 3.6200 0.0300
Jul 17 3.6925 0.0250
Dec 17 3.8675 0.0250
May 17 - Jul 17
Spread -$0.0725 Neutral

Trends

Monthly Trend Up
Weekly Trend Down

Market Structure

Seasonal Index

The market tends to trend down through August.

Positions

2016: 100% of 2016 production sold 2017: 75% expected production covered w/Dec 17 $3.80 puts @ approx. $0.30 2017: 25% expected production priced w/Dec 17 @ $3.90 ($3.98-$0.08 net puts)
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