DTN Daily Basis Comments

Corn, 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 1 cent weaker at 7 cents over the July futures contract while the DTN National Corn Index was up 7 cents at $6.75. The national average basis for soybeans was 4 cents weaker at 32 cents under the July futures contract while the DTN National Soybean Index was down 32 cents at $14.34. The national average basis for HRW wheat was 1 cent stronger at 15 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was down 15 cents at $5.98. The national average basis for HRS wheat was 1 cent stronger at 30 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 2 cents at $7.17.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.75 $0.07 $0.07 Jul -$0.012
Soybeans: $14.34 -$0.11 -$0.32 Jul -$0.041
SRW Wheat: $6.39 -$0.13 -$0.23 Jul $0.004
HRW Wheat: $5.98 -$0.15 -$0.15 Jul $0.004
HRS Wheat: $7.17 $0.02 -$0.30 Jul $0.005

CORN:

The national average corn basis for Tuesday is at 7 cents over the July futures, 1 cent weaker than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 32 cents under the July futures, 4 cents weaker than Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 23 cents under the July futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 15 cents under the Kansas City July futures, 1 cent stronger than Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday is at 30 cents under the Minneapolis July futures, 1 cent stronger than Monday'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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