DTN Daily Basis Comments
Corn and Soybean Basis Continue to Fade
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 3 cents weaker at 57 cents over the September futures contract, while the DTN National Corn Index was down 16 cents at $6.83. The national average basis for soybeans was 2 cents weaker at 48 cents over the November futures contract while the DTN National Soybean Index was down 44 cents at $14.60. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 46 cents under the September futures contract while the DTN National Hard Red Winter Wheat Index was down 5 cents at $8.36. The national average basis for hard red spring (HRS) wheat was 4 cents stronger at 50 cents under the September futures contract while the DTN National Hard Red Spring Wheat Index was down 5 cents at $8.61.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $6.83 | -$0.16 | $0.57 | Sep | -$0.029 |
Soybeans: | $14.60 | -$0.44 | $0.48 | Nov | -$0.016 |
SRW Wheat: | $7.45 | -$0.05 | -$0.55 | Sep | $0.004 |
HRW Wheat: | $8.36 | -$0.05 | -$0.46 | Sep | $0.018 |
HRS Wheat: | $8.61 | -$0.05 | -$0.50 | Sep | $0.040 |
CORN:
The national average corn basis for Monday is 57 cents over the September futures, 3 cents weaker than Friday's basis.
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SOYBEANS:
The national average soybean basis for Monday is at 48 cents over the November futures, 2 cents weaker than Friday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Monday is at 55 cents under the September futures, 1 cent stronger than Friday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Monday is at 46 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 50 cents under the Minneapolis September futures, 4 cents stronger than Friday's basis.
Mary Kennedy can be reached at mary.kennedy@dtn.com
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