DTN Daily Basis Comments

Soybean Basis Moved to November

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 weaker at 87 cents over the September futures contract, while the DTN National Corn Index was up 4 cents at $6.92. The national average basis for soybeans was 5 cents weaker at $1.31 over the November futures contract while the DTN National Soybean Index was down 14 cents at $14.72. The national average basis for hard red winter (HRW) wheat was unchanged at 48 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 14 cents at $8.01. The national average basis for hard red spring (HRS) wheat was unchanged at 45 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 3 cents at $8.66.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.92 $0.04 $0.87 Sep -$0.010
Soybeans: $14.72 -$0.14 $1.31 Nov -$0.054
SRW Wheat: $7.33 -$0.13 -$0.62 Sep $0.027
HRW Wheat: $8.01 -$0.14 -$0.48 Sep -$0.001
HRS Wheat: $8.66 -$0.03 -$0.45 Sep $0.004

CORN:

The national average corn basis for Thursday is 87 cents over the September futures, 1 cent weaker than Wednesday's basis.

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SOYBEANS:

The national average soybean basis for Thursday is at $1.31 over the November futures, 5 cents weaker than Wednesday's basis.

SOFT RED WINTER WHEAT

The national average SRW wheat basis for Thursday is at 62 cents under the September futures, 3 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday is at 48 cents under the Kansas City September futures, unchanged from Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday is at 45 cents under the Minneapolis September futures, unchanged from Wednesday'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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