DTN Daily Basis Comments

Corn Basis Steady, 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 69 cents over the September futures contract while the DTN National Corn Index was down 5 cents at $6.15. The national average basis for soybeans was 1 cent weaker at 23 cents over the November futures contract and the DTN National Soybean Index was up 5 cents at $13.49. The national average basis for HRW wheat was 1 cent stronger at 15 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 13 cents at $6.79. The national average basis for HRS wheat was 1 cent stronger at 12 cents under the September futures contract and the DTN National Hard Red Spring Wheat Index was down 16 cents at $8.91.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.15 -$0.05 $0.69 Sep -$0.004
Soybeans: $13.49 $0.05 $0.23 Nov -$0.006
SRW Wheat: $6.76 -$0.07 -$0.42 Sep $0.003
HRW Wheat: $6.79 -$0.13 -$0.15 Sep $0.003
HRS Wheat: $8.91 -$0.16 -$0.12 Sep $0.011

CORN:

The national average corn basis for Wednesday is at 69 cents over the September futures, unchanged from Tuesday's basis.

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SOYBEAN:

The national average soybean basis for Wednesday is at 23 cents over the November futures, 1 cent weaker than Tuesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Wednesday is at 42 cents under the September futures, unchanged from Tuesday's basis.

HARD RED WINTER WHEAT:

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

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Wednesday is at 12 cents under the Minneapolis September futures, 1 cent stronger than Tuesday'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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