DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent weaker at 31 cents over the July futures contract, and the DTN National Corn Index was up 10 cents at $6.39. The national average basis for soybeans was 1 cent weaker at 33 cents under the July futures contract, while the DTN National Soybean Index was up 3 cents at $13.21. The national average basis for hard red winter (HRW) wheat was 1 cent weaker at 37 cents under the July futures contract, and the DTN National Hard Red Winter Wheat Index was down 3 cents at $7.83. The national average basis for hard red spring (HRS) wheat was 1 cent weaker at 35 cents under the July futures contract, while the DTN National Hard Red Spring Wheat Index was down 5 cents at $7.82.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$6.39	$0.10	$0.31	Jul	-$0.007
Soybeans:	$13.21	$0.03	-$0.33	Jul	-$0.002
SRW Wheat:	$5.87	$0.04	-$0.41	Jul	$0.001
HRW Wheat:	$7.83	-$0.03	-$0.37	Jul	-$0.007
HRS Wheat:	$7.82	-$0.05	-$0.35	Jul	-$0.012

CORN:

The national average corn basis for Tuesday was 31 cents over the July futures, 1 cent weaker than Monday's basis.

SOYBEANS:

The national average soybean basis for Tuesday was 33 cents under the July futures, 1 cent weaker than Monday's basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 41 cents under the July futures, unchanged from Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 37 cents under the Kansas City July futures, 1 cent weaker than Monday's basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 35 cents under the Minneapolis July futures, 1 cent weaker than Monday'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.