DTN Daily Basis Comments
Corn, SRW Wheat, HRW Wheat Basis Strengthen Friday
DAILY BASIS AND CASH INDEX SUMMARY:
The national average basis for corn was 1 cent stronger at 36 cents over the July futures contract, and the DTN National Corn Index was up 4 cents at $6.21. The national average basis for soybeans was unchanged at 17 cents under the July futures contract, while the DTN National Soybean Index was up 15 cents at $14.02. The national average basis for hard red winter (HRW) wheat was 3 cents stronger at 22 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was up 15 cents at $7.55. The national average basis for hard red spring (HRS) wheat was unchanged at 32 cents under the July futures contract, while the DTN National Hard Red Spring Wheat Index was up 18 cents at $7.72.
DTN Cash | Change From | National | Contract | Change from | |
Commodity | Index | Prev Day | Avg. Basis | Month | Prev Day |
Corn: | $6.21 | $0.04 | $0.36 | Jul | $0.008 |
Soybeans: | $14.02 | $0.15 | -$0.17 | Jul | -$0.001 |
SRW Wheat: | $5.86 | $0.10 | -$0.48 | Jul | $0.052 |
HRW Wheat: | $7.55 | $0.15 | -$0.22 | Jul | $0.037 |
HRS Wheat: | $7.72 | $0.18 | -$0.32 | Jul | -$0.003 |
CORN:
The national average corn basis for Friday was 36 cents over the July futures, 1 cent stronger than Thursday's basis.
SOYBEANS:
The national average soybean basis for Friday was 17 cents under the July futures, unchanged from Thursday's basis.
SOFT RED WINTER WHEAT:
The national average SRW wheat basis for Friday was 48 cents under the July futures, 5 cents stronger than Thursday's basis.
HARD RED WINTER WHEAT:
The national average HRW wheat basis for Friday was 22 cents under the Kansas City July futures, 3 cents stronger than Thursday's basis.
HARD RED SPRING WHEAT:
The national average HRS wheat basis for Friday was 32 cents under the Minneapolis July futures, unchanged from Thursday'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
(c) Copyright 2023 DTN, LLC. All rights reserved.