DTN Daily Basis Comments

Corn, Soybean 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 9 cents under the September futures contract while the DTN National Corn Index was down 18 cents at $3.57. The national average basis for soybeans was 1 cent stronger at 84 cents under the November futures contract while the DTN National Soybean Index was up 10 cents at $8.05. The national average basis for HRW wheat was unchanged at 22 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 9 cents at $3.61. The national average basis for HRS wheat was down 1 cent at 50 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 7 cents at $4.54.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.57 -$0.18 -$0.09 Sep $0.008
Soybeans: $8.05 $0.10 -$0.84 Nov $0.005
SRW Wheat: $4.56 $0.01 -$0.16 Sep $0.005
HRW Wheat: $3.61 -$0.09 -$0.22 Sep $0.000
HRS Wheat: $4.54 -$0.07 -$0.50 Sep -$0.008

CORN:

The DTN National Corn Index for Tuesday indicated a national average basis of 9 cents under the Chicago September futures contract, 1 cent stronger than Monday basis.

SOYBEANS:

The DTN National Soybean Index for Tuesday indicated a national average basis of 84 cents under the Chicago November futures contract, 1 cents stronger than Monday basis.

SOFT RED WINTER WHEAT:

The DTN National Soft Red Winter (SRW) Wheat Index for Tuesday indicated a national average basis of 16 cents under the Chicago September futures, unchanged from Monday basis.

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter (HRW) Wheat Index for Tuesday indicated a national average basis of 22 cents under the Kansas City September futures contract, unchanged from Monday basis.

HARD RED SPRING WHEAT:

The DTN National Hard Red Spring (HRS) Wheat Index for Tuesday indicated a national average basis of 50 cents under the Minneapolis September futures contract, 1 cent weaker from Monday 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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