DTN Daily Basis Comments

Corn, Soybean Basis Weaken Tuesday

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 17 cents under the July futures contract, while the DTN National Corn Index was up 13 cents at $7.56. The national average basis for soybeans was 1 cent weaker at 46 cents under the July futures contract while the DTN National Soybean Index was up 18 cents at $16.14. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 59 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 23 cents at $11.08. The national average basis for hard red spring (HRS) wheat was unchanged at 38 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 16 cents at $11.18.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.56 $0.13 -$0.17 Jul -$0.003
Soybeans: $16.14 $0.18 -$0.46 Jul -$0.014
SRW Wheat: $10.38 $0.23 -$0.74 Jul -$0.009
HRW Wheat: $11.08 $0.23 -$0.59 Jul $0.017
HRS Wheat: $11.18 $0.16 -$0.38 Jul $0.003

CORN:

The national average corn basis for Tuesday is 17 cents under the July futures, 1 cent weaker than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 46 cents under the July futures, 1 cent weaker than Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 74 cents under the July futures, 1 cent weaker than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 59 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 38 cents under the Minneapolis July futures, unchanged from 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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