DTN Daily Basis Comments

Corn, Soybean Basis Strengthen

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 stronger at 10 cents under the July futures contract, and the DTN National Corn Index was up 4 cents at $7.65. The national average basis for soybeans was 1 cent stronger at 35 cents under the July futures contract and the DTN National Soybean Index was up 8 cents at $15.57. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 52 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 9 cents at $11.23. The national average basis for hard red spring (HRS) wheat was 5 cents weaker at 43 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 2 cents at $11.71.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.65 $0.04 -$0.10 Jul $0.002
Soybeans: $15.57 $0.08 -$0.35 Jul $0.005
SRW Wheat: $10.24 $0.01 -$0.69 Jul $0.008
HRW Wheat: $11.23 $0.09 -$0.52 Jul -$0.017
HRS Wheat: $11.71 $0.02 -$0.43 Jul -$0.043

CORN:

The national average corn basis for Tuesday is 10 cents under the July futures, 1 cent stronger than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday is at 35 cents under the July futures, 1 cent stronger than Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday is at 69 cents under the July futures, 1 cent stronger than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday is at 52 cents under the Kansas City July futures, 1 cent weaker than Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday is at 43 cents under the Minneapolis July futures 5 cents weaker than 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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