As I look at this seasonal weekly close-only chart for the soybean basis market, Merle Haggard's classic "If We Make It Through December" is echoing in my head. In this case, though, it isn't December but rather September, appearing larger [...]

As I mentioned in Monday's Morning Commentary, the national average corn basis market weakened again last week with my calculation Friday coming in at 9.3 cents over December futures (green circle marker). While well off the previous week's calculation of [...]

A look at this seasonal weekly close-only chart for the national average soybean market (DTN National Soybean Index minus futures) shows the 2022-2023 marketing year (solid green line) is off to a normal start. My Monday calculation came in at [...]

My national average corn basis calculation came in at 15.5 cents over December futures last Friday (solid green line), substantially weaker than the previous Friday's figure of 26.1 cents over. While this could be a cause of concern for some, [...]

My national average basis calculation (DTN National Corn Index minus nearby futures) came in at 26.1 cents over the December contract. While this was roughly 4.0 cents weaker than the previous Friday (green marker), it was still well above the [...]

Now that the soybean basis silly season from July through August is out of the way, we can get a better read from this key piece of fundamental information. My theoretical calculation (DTN National Soybean Index minus nearby futures) came [...]

As I mentioned in Tuesday's Morning Commentary, my theoretical calculation of national average corn basis for last Friday, the first weekly close of September, came in at 30.1 cents over December futures (green marker). This far outdistanced the previous 5-year [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, August 31. I thought about not posting these numbers today, but for the sake of consistency, we'll do this one more time. Though this time around the focus [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, August 30. I have no confidence in basis readings at this point. I’m looking forward to the roll to December futures Thursday. The Barchart National Corn Basis Index [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, August 29. I have no confidence in basis readings at this point. I’m looking forward to the roll to December futures later this week. The Barchart National Corn [...]

While the 2021-2022 basis market came to an end last Friday, at least in terms that was the last Friday calculation of basis for the marketing year, the heart of King Corn - basis - is expected to live on [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, August 26. I don’t have much confidence in basis readings at this point. I’m looking forward to the roll to December futures next week. The Barchart National Corn [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, August 25. I don’t have much confidence in basis readings at this point. I’m looking forward to the roll to December futures next week. The Barchart National Corn [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, August 24. I don’t have much confidence in basis readings at this point. I’m looking forward to the roll to December futures next week. The Barchart National Corn [...]

I don't know about you, but I find myself longingly looking ahead to next week when the calendar rolls from August to September. Yes, it marks the end of meteorological summer and beginning of meteorological autumn, which means winter is [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, August 23. I don’t have much confidence in basis readings at this point. I'm looking forward to the roll to December futures next week. The Barchart National Corn [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, August 22. I don’t have much confidence in the basis readings at this point. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 51.49 [...]

We can see the end of corn's 2022-2023 marketing year from here, with this coming Friday the last weekly close before the calendar page turns to September the following Thursday. One market to keep an eye on is national average [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, August 19. I don’t have much confidence in the basis readings at this point. The size of the daily changes in basis indexes makes me skeptical. The Barchart [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, August 17. I don’t have much confidence in the basis readings at this point. I'm counting the days until the indexes are officially disconnected from September contracts. The [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, August 16. I don’t have much confidence in the basis readings at this point. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 55.01 [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, August 15. I don’t have much confidence in the basis readings at this point. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 56.86 [...]

A friend just sent in a great question, "Could no more inverse in corn futures be a problem for basis bulls?" It has been a dramatic first half of Monday's session, not overly surprising we are still in the time [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, August 12. I don’t have much confidence in the basis readings at this point. The size of the daily changes in basis indexes makes me skeptical. The Barchart [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, August 11. I’m going to say it at the top: I don’t have much confidence in the basis readings at this point. The size of the daily changes [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, August 10. I’m going to say it at the top: I don’t have much confidence in the basis readings at this point. The size of the daily changes [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, August 9. I’m going to say it at the top: I don’t have much confidence in the basis readings at this point. The size of the daily changes [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, August 8. I’m going to say it at the top: I don’t have much confidence in the basis readings at this point. The size of the daily changes [...]

If you have that feeling we've seen this activity in the corn market before, you are correct. A look at this seasonal weekly close-only chart for the Barchart National Corn Basis Index (NCBI, weighted national average basis) shows us the [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, August 4. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 75.85 cents over September futures This was 1.41 cents weaker for the day [...]

As I mentioned in Thursday's Morning Commentary, the Kansas City (HRW) futures market has been flatlining of late with both September and December contract holding above recent 4-week lows. They haven't ranged far to the upside, but rather just sitting [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, August 3. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 77.26 cents over September futures This was 1.29 cents weaker for the day [...]

The Barchart National SRW Wheat Basis Index (SWBI, weighted national average basis) has continued its quiet climb, or strengthening, with the calculation coming in Tuesday afternoon at 50.9 cents under September Chicago (SRW). This is already 6.0 cents stronger than [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, August 2. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 78.55 cents over September futures This was 0.42 cent weaker for the day [...]

I struggled most of July to solve the problem of which cash index was providing us a better picture of soybean fundamentals, and the answer became crystal clear the first day of August. To illustrate, I've brought out one of [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, August 1. I'm going to say it at the top: I don't have much confidence in the basis readings at this point. The size of the daily changes [...]

The 2021-2022 national average corn basis market (solid green line) showed a little seasonal slippage the last couple weeks, but remains strong. The Barchart National Corn Basis Index (NCBI, weighted national average basis) was calculated at 82.6 cents over September [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, July 29. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 82.63 cents over September futures This was 1.33 cents weaker for the day [...]

I find this seasonal weekly close-only chart for the Barchart National HRS Wheat Basis Index (HSBI, weighted national average basis) interesting. North American spring wheat supplies leftover from 2021 are tight due to a weather-reduced crop, and the 2022 crop [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, July 28. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 83.96 cents over September futures This was 1.34 cent weaker for the day [...]

If you find peace in staring at a landscape that doesn't seem to change, like a mountain or an ocean (and yes, I know both change over time), then the HRW basis market is for you. The Barchart National HRW [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, July 27. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.30 cents over September futures This was 0.21 cent weaker for the day [...]

(Feel free to listen to John Conlee's classic "Rose Colored Glasses" as background music for this analysis.) As I mentioned in Wednesday's Morning Commentary, the SRW wheat basis market has quietly been strengthening of late, nearly without notice. A look [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, July 26. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.51 cents over September futures This was 0.903 cent stronger for the day [...]

Am I confident talking about this national average soybean basis seasonal weekly close-only chart these days? No, absolutely not. There are a lot of moving parts, and unlike the inner workings of a finely tuned Swiss watch, none of the [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, July 25. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.48 cents over September futures This was 0.29 cent stronger for the day [...]

The national corn basis market continues to get more interesting as we draw closer to the end of July. The Barchart National Corn Basis Index (NCBI, weighted national average basis) was calculated last Friday at 85.2 cents over September, keeping [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, July 22. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.19 cents over September futures This was 0.11 cent weaker for the day [...]

Thursday saw the Barchart National HRS Wheat Basis Index calculated at 63.5 cents under September Minneapolis (HRS), putting it about 1.5 cents weaker for the week. And while the 2022-2023 basis market (solid green line) has been staying in step [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, July 21. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.30 cents over September futures This was 0.11 cent weaker for the day [...]

This study is still based on Wednesday's Barchart National SRW Wheat Basis and Price Indexes, as I wanted to get this out before the release of Thursday's numbers. And given the kind of day it has been, that means this [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, July 20. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.41 cents over September futures This was 0.02 cent stronger for the day [...]

I've been keeping an eye on the Barchart National HRW Wheat Basis Index (HWBI, weighted national average basis) since the beginning of the 2022-2023 marketing year (solid green line), and so far the picture has been grim. Recall from previous [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, July 19. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.39 cents over September futures This was 0.18 cent stronger for the day [...]

(Feel free to listen to ELO's song Confusion as background music while you read through this post.) In case you've missed it, I really don't like this time of year when it comes to soybean fundamentals. For the most part, [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, July 18. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 85.21 cents over September futures This was 1.7 cents weaker for the day [...]

I spent some time this past weekend visiting with folks on social media about the difference between the intrinsic value of commodities versus the paper value. The latter has been heavily influenced by investor fear of US Federal Reserve interest [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, July 15. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 86.91 cents over September futures This was 0.26 cent weaker for the da [...]

Playing the role of optimist, unusual for me I know, but the bright spot of the wheat basis market continues to be the Barchart National HRS Wheat Basis Index (HSBI, weighed national average basis). Friday's calculation came in at 61.9 [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, July 14. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 87.17 cents over September futures This was 3.36 cents weaker for the day [...]

I mentioned Wednesday how the Barchart National HRW Basis Index was as cold as ice, compared to its previous 4-year low weekly closes, with Thursday's look at the Barchart National SRW Wheat Basis Index (SWBI, weighted national average basis) showing [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, July 13. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 90.53 cents over September futures This was 0.05 cent stronger for the day [...]

The Barchart National HRW Wheat Basis Index (HWBI, weighted national average cash basis) was calculated at 50.0 cents under September Kansas City (HRW) futures Tuesday afternoon, roughly 0.4 cent weaker than the previous day. This keeps the 2022-2023 basis market [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, July 12. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 90.48 cents over September futures This was 0.45 cent stronger for the day [...]

As you'll recall, this is not my favorite time of year for tracking soybean basis, one of our key fundamental reads. Why? We have to deal with, in quick succession, the generally useless August and September issues in regards to [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, July 11. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 90.03 cents over September futures This was 0.18 cent stronger for the day [...]

The Barchart National Corn Basis Index (NCBI, weighted national average basis) came in last Friday at 89.9 cents over September futures, putting it near the top of the range on this chart meaning if the trend continues I'll be expanding [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, July 8. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 89.85 cents over September futures This was 0.66 cent stronger for the day [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, July 7. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 89.19 cents over September futures This was 0.47 cent stronger for the day [...]

Not to put a damper on what has been a bullish morning for the grain and oilseed complex, but the SRW wheat basis market is a long way from joining the running of the bulls. In fact, the Barchart National [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, July 6. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 88.72 cents over September futures This was 1.72 cents stronger for the day [...]

Tuesday saw the Barchart National Soybean Basis Index (NSBI, weighted national average basis) calculated at 25.7 cents over August futures, keeping the 2021-2022 basis market (solid green line) bullish until further notice. For now the NSBI is also pulling away [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, June 28. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 87.0 cents over September futures This was 1.54 cents stronger for the day [...]

As I mentioned in Tuesday's Morning Commentary, last Friday's national basis market for corn was exciting. It was the first official day the Barchart National Corn Basis Index (NCBI, weighted national average basis) was calculated versus the September futures contract, [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, June 30. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

The Barchart National Basis and Price Indexes have been calculated for Thursday, June 30. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

The Barchart National Basis and Price Indexes have been calculated for Wednesday, June 29. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

The Barchart National Basis and Price Indexes have been calculated for Tuesday, June 28. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

It's possible folks can take a look at this seasonal weekly close-only chart for national average soybean basis and see something completely different. Those who are bearish soybeans will notice how the Barchart National Soybean Basis Index (solid green line) [...]

The Barchart National Basis and Price Indexes have been calculated for Monday, June 27. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

Things are about to get fun in the corn basis market, more fun than it has already been. Last Friday saw the Barchart National Corn Basis Index calculated at 3.9 cents under for its final official calculation versus July futures. [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, June 24. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I’m paying more attention to my theoretical [...]

The Barchart National Basis Indexes have been calculated for Thursday, June 23. Let me start by saying I have little to no confidence in the Basis Indexes at this time, meaning I'm paying more attention to my theoretical calculations versus [...]

The Barchart National Basis Indexes have been calculated for Wednesday, June 22. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 7.16 cents over July futures This was 0.4 cent stronger for the day and 3.19 [...]

The first thing we see when looking at this seasonal weekly close-only chart for the Barchart National Soybean Basis Index (NSBI, weighted national average basis) is the 2021-2022 marketing year (solid green line) has dipped back below the previous 5-year [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 21. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 6.76 cents over July futures This was 0.53 cent stronger for the day and 3.39 [...]

As I mentioned in Tuesday's Morning Commentary, when it comes to corn basis the spotlight is now on my theoretical calculation versus The September issue (Barchart National Corn Price Index minus September futures). The Barchart National Corn Basis Index remains [...]

The Barchart National Basis and Price Indexes have been calculated for Friday, June 17. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 5.5 cents under July futures This was 0.83 cent stronger for the day [...]

Early in the 2022-2023 marketing year for wheat (green line), the Barchart National HRS Wheat Basis Index (HSBI, weighted national average basis) is riding low and slow. For now it is hugging close to the previous 5-year low weekly closes [...]

The Barchart National Basis Indexes have been calculated for Thursday, June 16. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 4.67 cents over July futures This was 0.7 cent stronger for the day and 3.16 [...]

The first few weeks of the 2022-2023 marketing year for SRW wheat basis is off to a slow start with the Barchart National SRW Wheat Basis Index (SWBI, weighted national average cash price) calculated at 58.6 cents under July Chicago [...]

The Barchart National Basis Indexes have been calculated for Wednesday, June 15. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 3.97 cents over July futures This was 0.6 cent stronger for the day and 3.37 [...]

The Barchart National HRW Wheat Basis Index (HWBI, weighted national average basis) is flatlining early in the 2022-2023 marketing year (solid green line). Tuesday saw the HWBI calculated at 45.45 cents under July Kansas City (HRW) futures, slightly stronger than [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 14. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 3.37 cents over July futures This was 0.96 cent stronger for the day and 4.24 [...]

The 2021-2022 soybean basis market (solid green line) has been a wild ride, highlighted recently by almost daily big swings in the Barchart National Soybean Basis Index (NSBI, weighted national average basis). Monday afternoon saw the NSBI calculated at 43.3 [...]

The cmdty National Basis Indexes have been calculated for Monday, June 13. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 2.41 cents over July futures This was 0.41 cent stronger for the day and 4.78 [...]

If I could pick one chart that best reflects a particular market, out of the hundreds I have on hand, it would be this seasonal weekly close-only chart for the Barchart National Corn Basis Index (NCBI, weighted national average basis). [...]

The Barchart National Basis Indexes have been calculated for Friday, June 10. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 2.0 cents under July futures This was 0.49 cent stronger for the day and 5.35 [...]

The Barchart National Basis Indexes have been calculated for Thursday, June 9. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 1.51 cents over July futures This was 0.91 cent stronger for the day and 5.70 [...]

Similar to what we saw in the HRW Basis chart Wednesday, the Barchart National SRW Wheat Basis Index (SWBI, weighted national average basis) is starting the 2022-2023 marketing year in bearish territory. Some of this has to do with the [...]

The Barchart National Basis Indexes have been calculated for Wednesday, June 8. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 0.6 cent over July futures This was 1.47 cents stronger for the day and 5.68 [...]

As we get rolling on the 2022-2023 marketing year for winter wheat, we need to keep in mind it is harvest season for HRW. Given that, this seasonal weekly close-only chart for the Barchart National HRW Wheat Basis Index (HWBI, [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 7. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 0.87 cents under July futures This was 1.5 cents stronger for the day and 5.42 [...]

While Monday's daily change in the Barchart National Soybean Basis Index (NSBI, weighted national average basis) looked odd, matching exactly what was posted by the Barchart National Corn Basis Index, the fact the NSBI continued to firm was not a [...]

The cmdty National Basis Indexes have been calculated for Monday, June 6. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 2.37 cents under July futures This was 0.98 cent stronger for the day and 3.64 [...]

It was an impressive week for the Barchart National Corn Basis Index (NCBI, weighted national average basis), with Friday's calculation coming in at 3.4 cents under July futures. Not only was this 2.8 cents stronger for the week, it helped [...]

The Barchart National Basis Indexes have been calculated for Friday, June 3. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 3.35 cents under July futures This was 0.84 cent stronger for the day and 2.77 [...]

The Barchart National Basis Indexes have been calculated for Thursday, June 2. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 4.19 cents under July futures This was 0.89 cent stronger for the day and 2.33 [...]

I think I said it in this space last week, but the national basis market for spring wheat is difficult to read. A look at the seasonal weekly chart for the Barchart National HRS Wheat Basis Index (HSBI, weighted national [...]

The Barchart National Basis Indexes have been calculated for Wednesday, May 25. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 5.08 cents under July futures This was 1.21 cents stronger for the day and 2.06 [...]

As May came to an end, the national soybean basis market stayed strong. The Barchart National Soybean Basis Index (NSBI, weighted national average basis) was calculated at 34.4 cents under July futures, keeping the 2021-2022 market (solid green line) above [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 24. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 6.29 cents under July futures This was 0.28 cent weaker for the day but 1.43 [...]

The singer John Ondrasik had a good song out a number of years ago titled “Superman (It's Not Easy)”[i]. The song is from Superman’s point of view, talking about how hard it is to be a superhero. One of the [...]

The Barchart National Basis Indexes have been calculated for Friday, May 27. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 6.12 cents under July futures This was 0.4 cent stronger for the day and 3.07 [...]

Shortly after Friday's Afternoon Commentary had been posted, and just before the first cocktail of the 3-day holiday weekend had been poured, a good friend called to talk markets. My friend started the conversation by providing a good laugh when [...]

The Barchart National Basis Indexes have been calculated for Thursday, May 26. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 6.52 cents under July futures This was 0.62 cent stronger for the day and 2.84 [...]

The general theme in the three major wheat basis markets is weakening as we approach the end of the marketing year for winter markets. Yes, I know it is also considered the end of the marketing year for spring wheat, [...]

The Barchart National Basis Indexes have been calculated for Wednesday, May 25. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 7.14 cents under July futures This was 0.58 cent stronger for the day and 2.82 [...]

As we head toward the end of the 2021-2022 marketing year for winter wheat, the Barchart SRW Wheat Basis Index (SWBI, weighted national average basis) continues to run in bearish territory. Tuesday's calculation came in at 59.3 cents under July [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 24. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 7.72 cents under July futures This was 0.87 cent stronger for the day and 3.32 [...]

The 2021-2022 soybean basis market (solid green line) continues to heat up with the Barchart National Soybean Basis Index (NSBI, weighted national average basis) calculated at 30.1 cents under July futures Monday afternoon. This was 1.7 cents stronger than last [...]

The cmdty National Basis Indexes have been calculated for Monday, May 23. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 8.59 cents under July futures This was 0.6 cent stronger for the day and 2.97 [...]

The 2021-2022 corn basis market (solid green line) continued to climb again last week with the Barchart National Corn Basis Index (NCBI, weighted national average basis) calculated at 9.2 cents under July futures last Friday. This was 2.5 cents stronger [...]

The Barchart National Basis Indexes have been calculated for Friday, May 20. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 9.19 cents under July futures This was 0.17 cent stronger for the day and 2.55 [...]

I find this seasonal weekly close-only chart for the Barchart National HRS Wheat Basis Index (HSBI, weighted national average basis) interesting. At first glance we see the 2021-2022 market (green line) working its way toward the previous 5-year low weekly [...]

The Barchart National Basis Indexes have been calculated for Thursday, May 19. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 9.36 cents under July futures This was 0.6 cent stronger for the day and 2.48 [...]

As I mentioned (I've forgotten where exactly), the wheat sector in general looks to be on hold for now. This extends to the basis markets as well, with the Barchart National SRW Wheat Basis Index (SWBI, weighted national average basis) [...]

The Barchart National Basis Indexes have been calculated for Wednesday, May 18. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 9.96 cents under July futures This was 1.08 cents stronger for the day and 2.26 [...]

As the 2021-2022 marketing year nears its end for HRW wheat, the Barchart National HRW Wheat Basis Index (HWBI, weighted national average basis) is showing signs of fatigue and/or indifference. Tuesday saw the HWBI calculated at 57.4 cents under July [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 17. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 11.04 cents under July futures This was 0.52 cent stronger for the day and 1.71 [...]

I'm sure the din arising across much of the industry Tuesday is how soybeans are rallying on the latest weekly made up numbers from NASS. As long as we know differently, right? After all, it's easy to see the old-crop [...]

The cmdty National Basis Indexes have been calculated for Monday, May 16. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 11.56 cents under July futures This was 0.18 cent stronger for the day and 1.82 [...]

The 2021-2022 corn basis market (solid green line) is getting stronger and building momentum every week now. Last Friday saw the Barchart National Corn Basis Index (NCBI, weighted national average basis) calculated at 11.7 cents under July futures as compared [...]

The Barchart National Basis Indexes have been calculated for Friday, May 13. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 11.74 cents under July futures This was 0.10 cent stronger for the day and 2.30 [...]

The 2021-2022 HRS wheat basis market (green line) continues to hold near the previous 5-year average weekly closes (purple line), indicating the market has found equilibrium. What I mean is merchandisers are allowing the Minneapolis futures market to do most [...]

The Barchart National Basis Indexes have been calculated for Thursday, May 12. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 11.84 cents under July futures This was 0.46 cent stronger for the day and 2.56 [...]

The one basis market that continues to run bearish is SRW wheat. Here we see the Barchart National SRW Wheat Basis Index (SWBI, weighted national average basis) calculated at 61.5 cents under July Chicago (SRW) futures Wednesday afternoon, keeping the [...]

The Barchart National Basis Indexes have been calculated for Wednesday, May 11. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 12.22 cents under July futures This was 0.53 cent stronger for the day and 2.64 [...]

The show is about to start the in HRW wheat basis market as the 2021-2022 marketing year (green line) comes to an end this month and we lunge headlong into 2022-2023. For now the Barchart National HRW Wheat Basis Index [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 10. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 12.75 cents under July futures This was 0.63 cent stronger for the day and 2.17 [...]

The 2021-2022 soybean basis market (solid green line) looks to be taking off following the roll from May futures to July at the end of the calendar month April. If we use a combination of theoretical basis versus the first [...]

The cmdty National Basis Indexes have been calculated for Monday, May 9. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 13.38 cents under July futures This was 0.66 cent stronger for the day and 1.54 [...]

The 2021-2022 national average corn basis market (solid green line) is starting to heat up again, not as strong as it was last year at this time (gold line) but much stronger than the previous 5-year high weekly closes (red [...]

The Barchart National Basis Indexes have been calculated for Friday, May 6. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 14.04 cents under July futures This was 0.36 cent stronger for the day and 3.85 [...]

Closing out this week's fresh look at the various basis markets, the Barchart National HRS Wheat Basis Index (SWBI, weighted national average basis) gets its turn at center stage. The SWBI is impressive in that despite all the volatility seen [...]

The Barchart National Basis Indexes have been calculated for Thursday, May 5. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 14.40 cents under July futures This was 0.46 cent stronger for the day and 4.29 [...]

As the 2021-2022 marketing year for HRW wheat heads toward the sunset, I'm going to call the basis market neutral. For now. The 2021-2022 basis market (green line) was bullish for a long time, until the Barchart HRW Wheat Basis [...]

The Barchart National Basis Indexes have been calculated for Wednesday, May 4. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 14.86 cents under July futures This was 0.06 cent stronger for the day and 3.83 [...]

As you recall, one of reasons we study national average basis is to look for bubbles forming in the market. If we see the basis market make a sudden move weaker, it tends to tell us there's a bubble brewing [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 3. The Barchart National Corn Basis Index (NCBI, weighted national average) was calculated at 14.92 cents under July futures This was unchanged for the day and 4.59 cents stronger [...]