Soybean Basis Moved to November

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 29 cents under the September futures contract, while the DTN National Corn Index was up 7 cents at $4.29. The national average basis for soybeans was steady at 45 cents under the November futures, while the DTN National Soybean Index was up 6 cents at $11.75. The national average basis for hard red winter (HRW) wheat was 1 cent stronger at 56 cents under the September futures contract, while the DTN National Hard Red Winter Wheat Index down 3 cents at $6.70. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 45 cents under the MIAX Minneapolis September futures contract, and the DTN National Hard Red Spring Wheat Index was down 3 cents at $6.57.

CORN:

The national average corn basis for Tuesday was 29 cents under the September futures, Monday’s basis.

SOYBEAN:

The national average soybean basis for Tuesday was 45 cents under the November futures, unchanged from Monday’s basis.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 57 cents under the September futures, unchanged from Monday’s basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 56 cents under the Kansas City September futures, 1 cent stronger than Monday’s basis.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 45 cents under the MIAX Minneapolis September futures, 1 cent stronger than Monday’s basis.

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

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