DTN Daily Basis Comments
Corn Basis Stronger, Soybean Basis Weaker
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 2 cents stronger at 89 cents over the September futures contract, while the DTN National Corn Index was up 5 cents at $7.26. The national average basis for soybeans was 1 cent weaker at 13 cents over the August futures contract while the DTN National Soybean Index was up 8 cents at $15.35. The national average basis for hard red winter (HRW) wheat was 2 cents stronger at 50 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 28 cents at $8.65. The national average basis for hard red spring (HRS) wheat was 3 cents stronger at 45 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 25 cents at $9.19.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $7.26 | $0.05 | $0.89 | Sep | $0.013 |
Soybeans: | $15.35 | $0.08 | $0.13 | Aug | -$0.010 |
SRW Wheat: | $7.92 | -$0.32 | -$0.65 | Sep | $0.028 |
HRW Wheat: | $8.65 | -$0.28 | -$0.50 | Sep | $0.024 |
HRS Wheat: | $9.19 | -$0.25 | -$0.45 | Sep | $0.030 |
CORN:
The national average corn basis for Monday is 89 cents over the September futures, 2 cents stronger than Friday's basis.
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SOYBEANS:
The national average soybean basis for Monday is at 13 cents over the August futures, 1 cent weaker than Friday's basis.
SOFT RED WINTER WHEAT
The national average SRW wheat basis for Monday is at 65 cents under the September futures, 3 cents stronger than Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday is at 50 cents under the Kansas City September futures, 2 cents stronger than Friday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Monday is at 45 cents under the Minneapolis September futures, 3 cents stronger than Friday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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