DTN Daily Basis Comments

HRS Wheat Basis Weakens; Corn, Soybean Basis Steady

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 29 cents under the September futures contract while the DTN National Corn Index was down 5 cents at $3.23. The national average basis for soybeans was also unchanged at 60 cents under the August futures contract, while the DTN National Soybean Index was up 10 cents at $7.98. The national average basis for HRW wheat was unchanged at 16 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 1 cent at $4.94. The national average basis for HRS wheat was 1 cent weaker at 33 cents under the September futures contract, and the DTN National Hard Red Spring Wheat Index was down 8 cents at $5.22.

DAILY BASIS CHART:

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.23 -$0.05 -$0.29 Sep $0.006
Soybeans: $7.98 $0.10 -$0.60 Aug -$0.001
SRW Wheat: $4.84 -$0.03 -$0.27 Sep $0.003
HRW Wheat: $4.94 -$0.01 -$0.16 Sep -$0.003
HRS Wheat: $5.22 -$0.08 -$0.33 Sep -$0.005

CORN:

The DTN National Corn Index for Tuesday indicated a national average basis of 29 cents under the Chicago September futures contract, unchanged from Monday's basis.

SOYBEANS:

The DTN National Soybean Index for Tuesday indicated a national average basis of 60 cents under the Chicago August futures contract, unchanged from Monday's basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter Wheat Index for Tuesday indicated a national average basis of 27 cents under the Chicago September futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter Wheat Index for Tuesday indicated a national average basis of 16 cents under the Kansas City September futures contract, unchanged from Monday's basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring Wheat Index for Tuesday indicated a national average basis of 33 cents under the Minneapolis September futures contract, 1 cent weaker than Monday's basis.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow Mary Kennedy on Twitter @MaryCKenn

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Mary Kennedy

Mary Kennedy
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