DTN Daily Basis Comments

Corn Basis Steady; Soybean Basis Stronger

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 12 cents under the July futures contract, while the DTN National Corn Index was up 3 cents at $7.85. The national average basis for soybeans was 1 cent stronger at 37 cents under the July futures contract while the DTN National Soybean Index was up 7 cents at $16.10. The national average basis for hard red winter (HRW) wheat was unchanged at 51 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 54 cents at $11.26. 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 32 cents at $11.71.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.85 $0.03 -$0.12 Jul $0.002
Soybeans: $16.10 $0.07 -$0.37 Jul $0.004
SRW Wheat: $10.35 $0.29 -$0.71 Jul -$0.015
HRW Wheat: $11.26 $0.54 -$0.51 Jul $0.001
HRS Wheat: $11.71 $0.32 -$0.38 Jul -$0.003

CORN:

The national average corn basis for Thursday is 12 cents under the July futures, unchanged from Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 37 cents under the July futures, 1 cent stronger than Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is at 71 cents under the July futures, 1 cent weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is at 51 cents under the Kansas City July futures, unchanged from Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 38 cents under the Minneapolis July futures unchanged from Wednesday'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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