DTN Daily Basis Comments

All Wheat Basis Moved to July Along with Corn and Beans

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 37 cents over the July futures contract, while the DTN National Corn Index was down 9 cents at $6.44. The national average basis for soybeans was 2 cents weaker at 14 cents under the July futures contract, while the DTN National Soybean Index was down 15 cents at $14.22. The national average basis for hard red winter (HRW) wheat was unchanged at 23 cents under the July futures contract, while the DTN National Hard Red Winter Wheat Index was down 9 cents at $7.94. The national average basis for hard red spring (HRS) wheat was unchanged at 29 cents under the July futures contract, and the DTN National Hard Red Spring Wheat Index was down 5 cents at $8.11.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.44 -$0.09 $0.37 Jul -$0.016
Soybeans: $14.22 -$0.15 -$0.14 Jul -$0.018
SRW Wheat: $6.02 -$0.18 -$0.55 Jul -$0.019
HRW Wheat: $7.94 -$0.09 -$0.23 Jul -$0.009
HRS Wheat: $8.11 -$0.05 -$0.29 Jul $0.000

CORN:

The national average corn basis for Monday was 37 cents over the July futures, 1 cent weaker than Friday's basis.

SOYBEANS:

The national average soybean basis for Monday was 14 cents under the July futures, 2 cents weaker than Friday's basis.

SOFT RED WINTER WHEAT:

The futures average SRW wheat basis for Monday was 55 cents under the July futures, 1 cent weaker than Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 23 cents under the Kansas City July futures, unchanged Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 29 cents under the Minneapolis July futures, unchanged from Friday's basis.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow her on Twitter @MaryCKenn

Mary Kennedy

Mary Kennedy
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