DTN Daily Basis Comments

Soybean Basis Strengthens

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 unchanged at 9 cents under the September futures contract while the DTN National Corn Index was up 3 cents at $3.54. The national average basis for soybeans was 1 cent stronger at 82 cents under the November futures contract and the DTN National Soybean Index was up 5 cents at $7.91. The national average basis for HRW wheat was unchanged at 22 cents under the September futures contract and the DTN National Hard Red Winter Wheat Index was unchanged at $3.64. The national average basis for HRS wheat was steady at 50 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 2 cents at $4.52.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.54 $0.03 -$0.09 Sep $0.000
Soybeans: $7.91 $0.05 -$0.82 Nov $0.003
SRW Wheat: $4.47 $0.02 -$0.16 Sep $0.000
HRW Wheat: $3.64 $0.00 -$0.22 Sep $0.000
HRS Wheat: $4.52 -$0.02 -$0.50 Sep -$0.002

CORN:

The DTN National Corn Index for Wednesday indicated a national average basis of 9 cents under the Chicago September futures contract, unchanged from Tuesday's basis.

SOYBEANS:

The DTN National Soybean Index for Wednesday indicated a national average basis of 82 cents under the Chicago November futures contract, 1 cent stronger than Tuesday's basis.

SOFT RED WINTER WHEAT:

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

HARD RED WINTER WHEAT:

The DTN National Hard Red Winter (HRW) Wheat Index for Wednesday indicated a national average basis of 22 cents under the Kansas City September 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 50 cents under the Minneapolis September futures contract, unchanged from Tuesday's basis.

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

Follow Mary Kennedy on Twitter @MaryCKenn

(CZ)

Mary Kennedy

Mary Kennedy
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