DTN Daily Basis Comments

Corn, Soybean Basis Weaken Friday

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 2 cents weaker at 11 cents over the July futures contract while the DTN National Corn Index was up 19 cents at $6.94. The national average basis for soybeans was 3 cents weaker at 28 cents under the July futures contract while the DTN National Soybean Index was up 31 cents at $15.55. The national average basis for HRW wheat was unchanged at 16 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 12 cents at $6.21. The national average basis for HRS wheat was 1 cent weaker at 31 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 34 cents at $7.82.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.94 $0.19 $0.11 Jul -$0.018
Soybeans: $15.55 $0.31 -$0.28 Jul -$0.035
SRW Wheat: $6.68 $0.10 -$0.20 Jul -$0.013
HRW Wheat: $6.21 $0.12 -$0.16 Jul $0.001
HRS Wheat: $7.82 $0.34 -$0.31 Jul -$0.008

CORN:

The national average corn basis for Friday is at 11 cents over the July futures, 2 cents weaker than Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 28 cents under the July futures, 3 cents weaker than Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 20 cents under the July futures, 2 cents weaker than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 16 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 31 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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