DTN Daily Basis Comments

Corn Basis Stronger

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 1 cent stronger at 16 cents under the July futures contract while the DTN National Corn Index was down 3 cents at $4.28. The national average basis for soybeans was unchanged at 75 cents under the July futures contract while the DTN National Soybean Index was down 9 cents at $8.20. The national average basis for HRW wheat was unchanged at 17 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 4 cents at $4.52. The national average basis for HRS wheat was unchanged at 42 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was up 2 cents at $5.09.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $4.28 -$0.03 -$0.16 Jul $0.012
Soybeans: $8.20 -$0.09 -$0.75 Jul $0.003
SRW Wheat: $5.30 $0.08 -$0.14 Jul -$0.004
HRW Wheat: $4.52 $0.04 -$0.17 Jul $0.004
HRS Wheat: $5.09 $0.02 -$0.42 Jul $0.004

CORN:

The DTN National Corn Index for Wednesday indicated a national average basis of 16 cents under the Chicago July futures contract, 1 cent stronger than Tuesday's basis.

SOYBEANS:

The DTN National Soybean Index for Wednesday indicated a national average basis of 75 cents under the Chicago July futures contract, unchanged from Tuesday's basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter (SRW) Wheat Index for Wednesday indicated a national average basis of 14 cents under the Chicago July futures, 1 cent weaker than Tuesday's basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter (HRW) Wheat Index for Wednesday indicated a national average basis of 17 cents under the Kansas City July futures contract, unchanged from Tuesday's basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring (HRS) Wheat Index for Wednesday indicated a national average basis of 42 cents under the Minneapolis July futures contract, unchanged fromTuesday'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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