DTN Daily Basis Comments

Soybean Basis Weaker

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 21 cents under the July futures contract while the DTN National Corn Index was down 3 cents at $3.04. The national average basis for soybeans was 1 cent weaker at 46 cents under the July futures contract while the DTN National Soybean Index was down 2 cents at $8.29. The national average basis for HRW wheat was 1 cent stronger at 21 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 5 cents at $4.14. The national average basis for HRS wheat was unchanged at 24 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was down 4 cents at $4.91.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $3.04 -$0.03 -$0.21 Jul $0.005
Soybeans: $8.29 -$0.02 -$0.46 Jul -$0.004
SRW Wheat: $4.64 $0.00 -$0.22 Jul -$0.010
HRW Wheat: $4.14 $0.05 -$0.21 Jul $0.009
HRS Wheat: $4.91 -$0.04 -$0.24 Jul $0.001

CORN: The national average corn basis for Tuesday is at 21 cents under the July futures, unchanged from Monday’s basis.

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SOYBEANS: The national average soybean basis for Tuesday is at 46 cents under the July futures, 1 cent weaker than Monday’s basis.

SOFT RED WINTER WHEAT: The national average SRW wheat basis for Tuesday is at 22 cents under the Chicago July futures, 1 cent weaker than Monday’s basis.

HARD RED WINTER WHEAT: The national average HRW wheat basis for Tuesday is at 21 cents under the KC July futures, 1 cent stronger than Monday’s basis.

HARD RED SPRING WHEAT: The national average HRS wheat basis for Tuesday is at 24 cents under the Minneapolis July futures, unchanged from Monday’s basis.

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

Follow her on Twitter @MaryCKenn

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Mary Kennedy

Mary Kennedy
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