DTN Daily Basis Comments

Corn Basis Stronger; Cash Index Hits $8

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 stronger at 13 cents under the July futures contract, while the DTN National Corn Index was up 1 cent at $8.00. The national average basis for soybeans was unchanged at 40 cents under the July futures contract while the DTN National Soybean Index was unchanged at $16.45 The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 56 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was down 38 cents at $10.49. The national average basis for hard red spring (HRS) wheat was 2 cents weaker at 41 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was down 28 cents at $11.25.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $8.00 $0.01 -$0.13 Jul $0.014
Soybeans: $16.45 $0.00 -$0.40 Jul $0.003
SRW Wheat: $9.98 -$0.16 -$0.58 Jul $0.137
HRW Wheat: $10.49 -$0.38 -$0.56 Jul -$0.024
HRS Wheat: $11.25 -$0.28 -$0.41 Jul -$0.028

CORN:

The national average corn basis for Friday is 13 cents under the July futures, 2 cents stronger than Thursday's basis.

SOYBEANS:

The national average soybean basis for Friday is at 40 cents under the July futures, unchanged from Thursday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday is at 58 cents under the July futures, 13 cents stronger than Thursday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday is at 56 cents under the Kansas City July futures, 2 cents weaker than Thursday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday is at 41 cents under the Minneapolis July futures, 2 cents 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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