DTN Daily Basis Comments

Corn and Soybean Basis Steady

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 unchanged at 35 cents over the July futures contract, while the DTN National Corn Index was down 20 cents at $6.17. The national average basis for soybeans was unchanged at 17 cents under the July futures contract, and the DTN National Soybean Index was down 17 cents at $13.87. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 25 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was down 17 cents at $7.40. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 32 cents under the July futures contract, and the DTN National Hard Red Spring Wheat Index was down 29 cents at $7.53.

DTN Cash Change From National Contract Change from
Commodity Index Prev Day Avg. Basis Month Prev Day
Corn: $6.17 -$0.20 $0.35 Jul -$0.001
Soybeans: $13.87 -$0.11 -$0.17 Jul -$0.001
SRW Wheat: $5.76 -$0.10 -$0.53 Jul $0.025
HRW Wheat: $7.40 -$0.17 -$0.25 Jul $0.006
HRS Wheat: $7.53 -$0.29 -$0.32 Jul -$0.009

CORN:

The national average corn basis for Thursday was 35 cents over the July futures, unchanged from Wednesday's basis.

SOYBEANS:

The national average soybean basis for Thursday was 17 cents under the July futures, unchanged from Wednesday's basis.

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SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Thursday was 53 cents under the July futures, 3 cents stronger than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Thursday was 25 cents under the Kansas City July futures, 1 cent stronger than Wednesday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Thursday was 32 cents under the Minneapolis July futures, 1 cent weaker than Wednesday's basis.

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

Follow her on Twitter @MaryCKenn

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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