DTN Daily Basis Comments
Corn Basis Weakens Again
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 3 cents weaker at 54 cents over the September futures contract, while the DTN National Corn Index was down 19 cents at $6.65. The national average basis for soybeans was 1 cent weaker at 47 cents over the November futures contract while the DTN National Soybean Index was down 32 cents at $14.28. The national average basis for hard red winter (HRW) wheat was unchanged at 46 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 11 cents at $8.25. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 49 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 7 cents at $8.54.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $6.65 | -$0.19 | $0.54 | Sep | -$0.028 |
Soybeans: | $14.28 | -$0.32 | $0.47 | Nov | -$0.012 |
SRW Wheat: | $7.31 | -$0.14 | -$0.55 | Sep | $0.007 |
HRW Wheat: | $8.25 | -$0.11 | -$0.46 | Sep | $0.000 |
HRS Wheat: | $8.54 | -$0.07 | -$0.49 | Sep | $0.007 |
CORN:
The national average corn basis for Tuesday is 54 cents over the September futures, 3 cents weaker than Monday's basis.
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SOYBEANS:
The national average soybean basis for Tuesday is at 47 cents over the November futures, 1 cent weaker than Monday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Tuesday is at 55 cents under the September futures, unchanged from Monday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Tuesday is at 46 cents under the Kansas City September futures, unchanged from than Monday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Tuesday is at 49 cents under the Minneapolis September futures, 1 cent stronger than Monday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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