DTN Daily Basis Comments

Soybean Basis Continues to Weaken

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 17 cents over the July futures contract while the DTN National Corn Index was down 5 cents at $6.77. The national average basis for soybeans was 2 cents weaker at 12 cents under the July futures contract and the DTN National Soybean Index was down 9 cents at $15.14. The national average basis for HRW wheat was unchanged at 19 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was down 1 cent at $6.05. The national average basis for HRS wheat was 1 cent weaker at 30 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 4 cents at $6.70.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.77 -$0.05 $0.17 Jul $0.002
Soybeans: $15.14 -$0.09 -$0.12 Jul -$0.022
SRW Wheat: $6.57 -$0.01 -$0.17 Jul $0.003
HRW Wheat: $6.05 -$0.01 -$0.19 Jul -$0.004
HRS Wheat: $6.70 $0.04 -$0.30 Jul -$0.010

CORN:

The national average corn basis for Friday is at 17 cents over the July futures, unchanged from Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 12 cents under the July futures, 2 cents weaker than Thursday's basis.

SOFT RED WINTER WHEAT

The national average SRW wheat basis for Friday is at 17 cents under the July futures, unchanged from Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 19 cents under the Kansas City July futures, unchanged from Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 30 cents under the Minneapolis July futures, 1 cent weaker than Thursday's basis.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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