DTN Daily Basis Comments

Corn, Wheat Basis Levels Strengthen Thursday

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 9 cents under the July futures contract, and the DTN National Corn Index was up 4 cents at $7.83. The national average basis for soybeans was unchanged at 35 cents under the July futures contract while the DTN National Soybean Index was up 7 cents at $15.79. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 51 cents under the July futures contract and the DTN National Hard Red Winter Wheat Index was up 72 cents at $12.19. The national average basis for hard red spring (HRS) wheat was 2 cents stronger at 42 cents under the July futures contract and the DTN National Hard Red Spring Wheat Index was up 62 cents at $12.74.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.83 $0.04 -$0.09 Jul $0.010
Soybeans: $15.79 $0.07 -$0.35 Jul $0.001
SRW Wheat: $11.17 $0.73 -$0.62 Jul $0.069
HRW Wheat: $12.19 $0.72 -$0.51 Jul $0.026
HRS Wheat: $12.74 $0.62 -$0.42 Jul $0.025

CORN:

The national average corn basis for Thursday is 9 cents under the July futures, 1 cent stronger than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 35 cents under the July futures, unchanged from Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is at 62 cents under the July futures, 7 cents stronger 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, 2 cents stronger than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 42 cents under the Minneapolis July futures 2 cents stronger than 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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