DTN Daily Basis Comments
Corn, Soybean Basis Strengthen; Wheat Basis Levels Weaken Friday
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 8 cents under the July futures contract, while the DTN National Corn Index was down 10 cents at $7.73. The national average basis for soybeans was 1 cent stronger at 34 cents under the July futures contract and the DTN National Soybean Index was up 33 cents at $16.12. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 53 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was up 10 cents at $12.29. The national average basis for hard red spring (HRS) wheat was 4 cents weaker at 46 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was up 5 cents at $12.79.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $7.73 | -$0.10 | -$0.08 | Jul | $0.018 |
Soybeans: | $16.12 | $0.33 | -$0.34 | Jul | $0.007 |
SRW Wheat: | $11.18 | $0.01 | -$0.60 | Jul | $0.092 |
HRW Wheat: | $12.29 | $0.10 | -$0.53 | Jul | $0.004 |
HRS Wheat: | $12.79 | $0.05 | -$0.46 | Jul | -$0.016 |
CORN:
The national average corn basis for Friday is 8 cents under the July futures, 1 cent stronger than Thursday's basis.
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SOYBEANS:
The national average soybean basis for Friday is at 34 cents under the July futures, 1 cent stronger than Thursday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday is at 62 cents under the July futures, 2 cents weaker than Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday is at 53 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 46 cents under the Minneapolis July futures, 4 cents weaker than Thursday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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