DTN Daily Basis Comments

Soybean Basis Stronger, Corn 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 12 cents under the July futures contract, while the DTN National Corn Index was up 15 cents at $7.17. The national average basis for soybeans was 1 cent weaker at 47 cents under the July futures contract while the DTN National Soybean Index was up 25 cents at $16.25. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 68 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 49 cents at $10.35. The national average basis for hard red spring (HRS) wheat was 3 cents stronger at 46 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 31 cents at $10.36.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.17 $0.15 -$0.12 Jul -$0.004
Soybeans: $16.25 $0.25 -$0.47 Jul -$0.011
SRW Wheat: $10.03 $0.49 -$0.90 Jul $0.012
HRW Wheat: $10.35 $0.42 -$0.68 Jul $0.012
HRS Wheat: $10.36 $0.31 -$0.46 Jul $0.033

CORN:

The national average corn basis for Monday is 12 cents under the July futures, 1 cent weaker than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday is at 47 cents under the July futures, 1 cent stronger than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday is at 90 cents under the July futures, 1 cent stronger than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday is at 68 cents under the Kansas City July futures, 1 cent stronger than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday is at 46 cents under the Minneapolis July futures, 3 cent stronger 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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