DTN Daily Basis Comments

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 up 9 cents at $6.27. The national average basis for soybeans was 1 cent weaker at 20 cents under the July futures contract, and the DTN National Soybean Index was down 6 cents at $13.81. The national average basis for hard red winter (HRW) wheat was 2 cents weaker at 30 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was up 53 cents at $8.68. The national average basis for hard red spring (HRS) wheat was unchanged at 31 cents under the July futures contract, while the DTN National Hard Red Spring Wheat Index was up 37 cents at $8.43.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$6.27	$0.09	$0.35	Jul	-$0.009
Soybeans:	$13.81	-$0.06	-$0.20	Jul	-$0.014
SRW Wheat:	$6.16	$0.35	-$0.44	Jul	$0.015
HRW Wheat:	$8.68	$0.53	-$0.30	Jul	-$0.035
HRS Wheat:	$8.43	$0.37	-$0.31	Jul	$0.006

CORN:

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

SOYBEANS:

The national average soybean basis for Monday was 20 cents under the July futures, 1 cent weaker than Friday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Monday was 44 cents under the July futures, unchanged from Friday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Monday was 30 cents under the Kansas City July futures, 2 cents weaker than Friday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Monday was 31 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

(c) Copyright 2023 DTN, LLC. All rights reserved.