DTN Daily Basis Comments

Corn Basis Steady, While 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 2 cents at $6.74. The national average basis for soybeans was 2 cents weaker at 14 cents under the July futures contract and the DTN National Soybean Index was down 5 cents at $15.09. 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 9 cents at $5.96. The national average basis for HRS wheat was 1 cent weaker at 31 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was down 16 cents at $6.54.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.74 -$0.02 $0.17 Jul -$0.001
Soybeans: $15.09 -$0.05 -$0.14 Jul -$0.015
SRW Wheat: $6.45 -$0.13 -$0.18 Jul -$0.006
HRW Wheat: $5.96 -$0.09 -$0.19 Jul $0.001
HRS Wheat: $6.54 -$0.16 -$0.31 Jul -$0.007

CORN:

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

SOYBEANS:

The national average soybean basis for Monday is at 14 cents under the July futures, 2 cents weaker than Friday's basis.

SOFT RED WINTER WHEAT

The national average SRW wheat basis for Monday is at 18 cents under the July futures, 1 cent weaker than Friday's basis.

HARD RED WINTER WHEAT:

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

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 31 cents under the Minneapolis July futures, 1 cent weaker than Friday'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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