DTN Daily Basis Comments

Corn, 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 1 cent stronger at 7 cents under the July futures contract, while the DTN National Corn Index was up 2 cents at $7.76. The national average basis for soybeans was 1 cent stronger at 33 cents under the July futures contract while the DTN National Soybean Index was up 28 cents at $16.57. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 53 cents under the July futures contract while the DTN National Hard Red Winter Wheat Index was down 30 cents at $12.41. The national average basis for hard red spring (HRS) wheat was 4 cents weaker at 50 cents under the July futures contract while the DTN National Hard Red Spring Wheat Index was down 26 cents at $12.81.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $7.76 $0.02 -$0.07 Jul $0.005
Soybeans: $16.57 $0.28 -$0.33 Jul $0.007
SRW Wheat: $11.28 -$0.28 -$0.73 Jul $0.022
HRW Wheat: $12.41 -$0.30 -$0.54 Jul -$0.011
HRS Wheat: $12.81 -$0.26 -$0.50 Jul -$0.039

CORN:

The national average corn basis for Thursday is 7 cents under the July futures, 1 cent stronger than Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday is at 33 cents under the July futures, 1 cent stronger Wednesday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday is at 73 cents under the July futures, 2 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is at 54 cents under the Kansas City July futures, 1 cent weaker than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 50 cents under the Minneapolis July futures, 4 cents weaker 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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