DTN Daily Basis Comments

Corn Basis Stronger, Soybean Basis Weaker

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 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

Follow her on Twitter @MaryCKenn

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Mary Kennedy

Mary Kennedy
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