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DTN's Daily Basis Comments

DTN Daily Basis Comments

Corn, Soybean Basis Stronger

The national average basis for corn was unchanged at 37 cents under the July futures contract while the DTN National Corn Index was down 2 cents at $3.20. The national average basis for soybeans was 2 cents stronger at 62 cents under the July futures contract and the DTN National Soybean Index was up 4 cents at $8.52. The national average basis for HRW wheat was 1 cent stronger at 57 cents under the July futures contract, while the DTN National Hard Red Winter Wheat Index was up 5 cents at $4.04. The national average basis for HRS wheat was unchanged at 38 cents under the July future contract and the DTN National Hard Red Spring Wheat Index was up 24 cents at $6.67.

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MyDTN Premium Content Spotlight:

Market Strategies

CORN Strategies Snapshot

Closing Futures Price & Change

Electronic Corn (@C)
Jul 17 3.5675 -0.0250
Sep 17 3.6625 -0.0150
Dec 17 3.7625 -0.0125
Jul 17 - Sep 17
Spread -$0.0950 Neutral

Trends

Monthly Trend Sideways
Weekly Trend Down

Market Structure

Bearish - Type 8

Seasonal Index

The market tends to trend down through early October.

Positions

2017: 50% 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) 2017: 25% expected production priced w/Dec 17 @ $3.91 ($4.07-$0.16 net puts)
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