DTN Daily Basis Comments

Corn, Soybean Basis Strengthen; Wheat Basis Levels Weaken Friday

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 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.

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

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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