The cmdty National Basis Indexes have been calculated for Thursday, July 29. The cmdty National Corn Basis Index was calculated at 74.13 cents over September futures This was 0.65 cent weaker for the day and 1.85 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, July 28. The cmdty National Corn Basis Index was calculated at 74.78 cents over September futures This was 0.40 cent weaker for the day and 1.72 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, July 27. The cmdty National Corn Basis Index was calculated at 75.18 cents over September futures This was 0.07 cent stronger for the day but 1.65 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Monday, July 26. The cmdty National Corn Basis Index was calculated at 75.11 cents over September futures This was 0.45 cent weaker for the day and 1.72 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Thursday, July 22. The cmdty National Corn Basis Index was calculated at 75.98 cents over September futures This was 0.52 cent weaker for the day and 2.18 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, July 21. The cmdty National Corn Basis Index was calculated at 76.50 cents over September futures This was 0.33 cent weaker for the day and 2.36 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, July 120. The cmdty National Corn Basis Index was calculated at 76.83 cents over September futures This was unchanged for the day and 3.58 cents weaker than last Tuesday The [...]

The cmdty National Basis Indexes have been calculated for Monday, July 19. The cmdty National Corn Basis Index was calculated at 76.83 cents over September futures This was 0.46 cent weaker for the day and 3.48 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Friday, July 16. The cmdty National Corn Basis Index was calculated at 77.29 cents over September futures This was 0.87 cent weaker for the day and 3.08 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Thursday, July 15. The cmdty National Corn Basis Index was calculated at 78.16 cents over September futures This was 1.7 cents weaker for the day and 2.27 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, July 14. The cmdty National Corn Basis Index was calculated at 79.86 cents over September futures This was 0.55 cent weaker for the day and 0.92 cent weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, July 13. The cmdty National Corn Basis Index was calculated at 80.41 cents over September futures This was 0.10 cent stronger for the day but 0.29 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Monday, July 12. The cmdty National Corn Basis Index was calculated at 80.31 cents over September futures This was 0.06 cent weaker for the day and 1.34 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Friday, July 9. The cmdty National Corn Basis Index was calculated at 80.37 cents over September futures This was 0.06 cent weaker for the day and 1.99 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Thursday, July 8. The cmdty National Corn Basis Index was calculated at 80.43 cents over September futures This was 0.35 cent weaker for the day and 4.53 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, July 7. As I’ve been talking about, the basis market Silly Season is now in full swing. Back when I was merchandising grain, I dreaded July and August, from a [...]

The cmdty National Basis Indexes have been calculated for Tuesday, July 6. As I’ve been talking about, the basis market Silly Season is now in full swing. Back when I was merchandising grain, I dreaded July and August, from a [...]

To answer your first question; No, this is not a discussion on the Chicago Cubs. Not only am I not a fan of Chicago sports teams, I'm now no longer interested in Major League Baseball as a whole given the [...]

The cmdty National Basis Indexes have been calculated for Thursday, July 1. As I've been talking about, the basis market Silly Season is now in full swing. Back when I was merchandising grain, I dreaded July and August, from a [...]

The cmdty National Basis Indexes have been calculated for Wednesday, June 30. The cmdty National Corn Basis Index was calculated at 32.82 cents under July futures This was 10.82 cents stronger for the day but 16.08 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Monday, June 28. The cmdty National Corn Basis Index was calculated at 43.64 cents under July futures This was 16.52 cents weaker for the day and 36.98 cents weaker than last [...]

Just a reminder we have entered one of the, well, sillier times of the year for talking about national average basis as July futures move toward delivery. Corn: The roll from July to September is a roll from old-crop to [...]

The cmdty National Basis Indexes calculated for Friday, June 25. The cmdty National Corn Basis Index was calculated at 17.67 cents under July futures This was 3.04 cents weaker for the day and 22.27 cents weaker for the week The [...]

The cmdty National Basis Indexes have been calculated for Thursday, June 24. The cmdty National Corn Basis Index was calculated at 14.63 cents under July futures This was 2.11 cents stronger for the day but 19.37 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, June 23. The cmdty National Corn Basis Index was calculated at 16.74 cents under July futures This was 10.18 cents weaker for the day and 21.00 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 22. The cmdty National Corn Basis Index was calculated at 6.66 (how ominous is that?) cents UNDER July futures This was 9.14 cents weaker for the day and 12.95 [...]

I've talked a great deal of late about the continued weakening of the cmdty National Soybean Basis Index (NSBI, weighted national average). Indeed, the NSBI has fallen well off its high weekly close of 9.4 cents over July futures from [...]

The cmdty National Basis Indexes have been calculated for Monday, June 21. The cmdty National Corn Basis Index was calculated at 2.48 cents over July futures This was 2.12 cents weaker for the day and 4.41 cents weaker than last [...]

Recall the last couple week's I've been highlighting the weakening cmdty National Corn Basis Index (NCBI, weighted national average) as it continues to fall back from its high of 16.4 cents over July futures (third week of May) to last [...]

The cmdty National Basis Indexes have been calculated for Friday, June 18. The cmdty National Corn Basis Index was calculated at 4.60 cents over July futures This was 0.14 cent weaker for the day and 2.78 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Thursday, June 17. The cmdty National Corn Basis Index was calculated at 4.74 cents over July futures This was 1.00 cent weaker for the day and 2.85 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, June 16. The cmdty National Soybean Basis Index was calculated at 32.6 cents under July futures This was 3.05 cents weaker for the day and 5.97 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 15. The cmdty National Corn Basis Index was calculated at 6.29 cents over July futures This was 0.6 cent weaker for the day and 2.62 cents weaker than last [...]

I've written a lot over the last couple months about the downfall of the cmdty National Soybean Basis Index (NSBI, weighted national average cash price), and rightfully so. After posting its theoretical high of 11.8 cents over July futures the [...]

The cmdty National Basis Indexes have been calculated for Monday, June 14. The cmdty National Corn Basis Index was calculated at 6.89 cents over July futures This was 0.49 cent weaker for the day and 2.66 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Friday, June 11. The cmdty National Soybean Basis Index was calculated at 24.35 cents under July futures This was 1.3 cents stronger for the day and 0.23 cent weaker for the [...]

The cmdty National Basis Indexes have been calculated for Thursday, June 10. The cmdty National Soybean Basis Index was calculated at 25.65 cents under July futures This was 0.98 cent stronger for the day and 5.08 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Wednesday, June 9. The cmdty National Soybean Basis Index was calculated at 26.63 cents under July futures This was 1.14 cents weaker for the day and 7.07 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 8. The cmdty National Soybean Basis Index was calculated at 25.49 cents under July futures This was 2.28 cents weaker for the day and 7.11 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Monday, June 7. The cmdty National Soybean Basis Index was calculated at 23.21 cents under July futures This was 0.91 cent stronger for the day All it took for the NSBI [...]

From a technical point of view, Friday's calculation of the cmdty National Corn Basis Index (NCBI, weighted national average) looks bearish. Applying the Wilhelmi Element (The only price that matters is the close) so many of my charts and studies [...]

The cmdty National Basis Indexes have been calculated for Friday, June 4. The cmdty National Corn Basis Index was calculated at 10.28 cents over July futures This was 1.09 cents weaker for the day and 4.18 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Thursday, June 3. The cmdty National Corn Basis Index was calculated at 11.37 cents over July futures This was 0.9 cent weaker for the day and 2.63 cents weaker than last [...]

I want to touch quickly on just how spectacularly unspectacular the cmdty National HRS Wheat Basis Index (HSBI, weighted national average) has been of late. After testing support at the 54 cents under level as recently as May 11, with [...]

The cmdty National Basis Indexes have been calculated for Wednesday, June 2. The cmdty National Corn Basis Index was calculated at 12.27 cents over July futures This was 0.64 cent weaker for the day and 2.69 cents weaker than last [...]

Wednesday is one of those days when I just can't quite get caught up. As I mentioned in Morning Commentary, this daily chart for the cmdty National Soybean Basis Index (NSBI, weighted national average) is showing what I would call [...]

The cmdty National Basis Indexes have been calculated for Tuesday, June 1. The cmdty National Corn Basis Index was calculated at 12.91 cents over July futures This was 1.42 cents weaker for the day and 2.65 cents weaker than last [...]

The cmdty National Basis Indexes have been calculated for Thursday, May 28. A fitting way to close out meteorological spring, with nearly all the cmdty National Basis Indexes in the green. The cmdty National Corn Basis Index was calculated at [...]

The cmdty National Basis Indexes have been calculated for Thursday, May 27. The cmdty National Corn Basis Index was calculated at 14.00 cents over July futures This was 0.96 cent weaker for the day And 1.62 cent weaker than the [...]

The cmdty National Basis Indexes have been calculated for Wednesday, May 26. The cmdty National Corn Basis Index was calculated at 14.96 cents over July futures This was 0.60 cent weaker for the day And still 0.36 cent weaker than [...]

As the 2020-2021 marketing year (green line) comes to an end for winter wheat this week, the cmdty National HRW Wheat Basis Index (HWBI) rides into the sunset on the trail of the strongest it has been over the previous [...]

The cmdty National Basis Indexes have been calculated for Monday, May 25. Tuesday's Song of the Day to Describe national average basis indexes is David Powter's "Bad Day". The cmdty National Corn Basis Index was calculated at 15.56 cents over [...]

I know it is still early Tuesday morning, and we've only had one calculation of the cmdty National Corn Basis Index this week, but after the NCBI weakened slightly from last Friday we are left to wonder if this was [...]

The cmdty National Basis Indexes have been calculated for Monday, May 22. The cmdty National Soybean Basis Index was calculated at 11.40 cents under July futures This was 2.67 cents weaker for the day and 13.85 cents weaker than the [...]

The cmdty National Soybean Basis Index (NSBI, weighted national average) was calculated last Friday at 9.7 cents under July futures, extending the break from my theoretical calculation of 11.8 cents over July at the end of April (green triangle marker). [...]

The cmdty National Basis Indexes have been calculated for Friday, May 21. The cmdty National Soybean Basis Index was calculated at 9.73 cents under July futures This was 2.07 cents weaker for the day and 14.58 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Thursday, May 20. The cmdty National Soybean Basis Index was calculated at 7.66 cents under July futures This was 2.83 cents weaker for the day and 14.86 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Wednesday, May 19. The cmdty National Soybean Basis Index was calculated at 4.83 cents under July futures This was 3.41 cents weaker for the day and 13.74 cents weaker for the [...]

If you've been following along with the Daily Basis Updates posted every afternoon, you'll recall the daily mood swings of the cmdty National Hard Red Spring Wheat Basis Index (HSBI) have been dramatic. For example: May 18: 3.5 cents weaker [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 18. If train wrecks make you queasy, look away. The cmdty National Soybean Basis Index was calculated at 1.42 cents under July futures This was 3.87 cents weaker for [...]

This weekly close-only chart for the cmdty National Soybean Basis Index is an interesting study in that it shows the NSBI is off to a sudden start on its third consecutive weaker week. After my theoretical calculation came in at [...]

The cmdty National Basis Indexes have been calculated for Monday, May 17. The cmdty National Corn Basis Index was calculated at 14.53 cents over July futures This was 0.13 cent stronger for the day and 0.07 cent weaker than a [...]

Last Friday saw the cmdty National Corn Basis Index calculated at 14.4 cents over July futures (green diamond marker) down fractionally from the previous Friday's calculation of 14.5 cents under. Both remain below my theoretical calculation of 16.1 cents over [...]

The cmdty National Basis Indexes have been calculated for Friday, May 14. The cmdty National Soybean Basis Index was calculated at 4.85 cents over July futures This was 2.35 cents weaker for the day and 4.53 cents weaker for the [...]

I borrowed the title of this post from a Joe Walsh song that begins with the lyrics, "I'm just an ordinary average guy/ My friends are boring, and so am I/ We're just ordinary average guys." A look at this weekly [...]

The cmdty National Basis Indexes have been calculated for Thursday, May 13. The cmdty National Soybean Basis Index was calculated at 7.20 cents over July futures This was 1.71 cents weaker for the day and 2.25 cents weaker than a [...]

I was impressed with the cmdty National HRW Wheat Basis Index (HWBI, weighted national average basis) Wednesday afternoon, after it came in at 25.2 cents under July Kansas City (HRW) futures, 1.1 cents stronger for the day. Of course it [...]

The cmdty National Basis Indexes have been calculated for Wednesday, May 12. Given this cherry on top of the corn market Wednesday, all signs point to the tipping point getting closer. The cmdty National Corn Basis Index was calculated at [...]

As I mentioned in Tuesday's Daily Basis Update and again in Wednesday's Morning Commentary, the cmdty National HRS Wheat Basis Index (HSBI, weighted national average) was calculated at 54.0 cents under July Minneapolis futures Tuesday (green circle marker), 1.3 cents [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 11: The cmdty National Corn Basis Index was calculated at 14.78 cents over July futures This was 0.18 cent stronger for the day and 0.75 cent stronger than a [...]

As I've mentioned a couple times the last few days, this could be a critical week for US national average soybean basis. My end of April theoretical calculation versus the July contract came in at 11.8 cents over (green triangle [...]

The cmdty National Basis Indexes have been calculated for Monday, May 8: A little salve for the wound that was Monday's grain and oilseed markets. The cmdty National Corn Basis Index was calculated at 14.60 cents over July futures This [...]

Last week could prove to be important in the corn basis market. As you recall, basis is the canary in the coal mind, the first indicator that old-crop fundamentals could be changing. Given this, we have to acknowledge the cmdty [...]

The cmdty National Basis Indexes have been calculated for Friday, May 7: The cmdty National Corn Basis Index was calculated at 14.47 cents over July futures This was 0.35 cent stronger for the day but 1.66 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Thursday, May 6: The cmdty National Corn Basis Index was calculated at 14.12 cents under July futures This was 0.13 cent weaker for the day and 2.01 cents weaker for the [...]

The cmdty National Basis Indexes have been calculated for Wednesday, May 5: The cmdty National Corn Basis Index was calculated at 14.25 cents under July futures This was 0.22 cent stronger for the day, but Still 1.88 cents weaker for [...]

The cmdty National Basis Indexes have been calculated for Tuesday, May 4: The cmdty National Corn Basis Index was calculated at 14.03 cents under July futures This was 0.22 cent stronger for the day, but Still 2.1 cents weaker for [...]

As I mentioned in Morning Commentary, we need to keep a close eye on the cmdty National Soybean Basis Index (NSBI, weighted national average) after its initial calculation versus the July futures contract came in at 8.7 cents over Monday [...]

As expected, the official roll of the cmdty National Corn Basis Index from May futures to the July contract resulted in a wild continuous chart. For this study I'm using my weekly close only chart for the nearby futures contract [...]

The cmdty National Basis Indexes have been calculated for Monday, May 3: As expected, the official roll of the indexes from May to July futures resulted in some interesting day-to-day changes. The cmdty National Corn Basis Index was calculated at [...]

The cmdty National Basis Indexes have been calculated for Friday, April 30: These indexes will officially roll from May futures to July on Monday, May 3. It will make for some interesting daily changes. The cmdty National Corn Price Index [...]

I've been in a discussion this morning about soybean basis. I have a young friend who is adamant we have seen the market collapse this week, based on the difference between the cash price index and May futures. Theoretically, my [...]

The cmdty National Basis Indexes have been calculated for Thursday, April 29: The cmdty National Corn Price Index was calculated at $6.6284, up 6.08 cents for the day May futures closed 15.75 cents higher This put the cmdty National Corn [...]

The cmdty National Basis Indexes have been calculated for Wednesday, April 28. The cmdty National Soybean Price Index was calculated at $15.2487, down 3.19 cents for the day May futures closed 8 cents higher Meaning technically the cmdty National Soybean [...]

The cmdty National Basis Indexes have been calculated for Tuesday, April 27. There are a number of interesting things to talk about in today's Basis Update. The cmdty National Corn Price Index was calculated at $6.6779, up 0.41 cent for [...]

The cmdty National Basis Indexes have been calculated for Monday, April 26. The cmdty National Corn Price Index was calculated at $6.6738, up 24.94 cents for the day Both May and July futures closed up the daily price limit 25 [...]

The cmdty National Basis Indexes have been calculated for Friday, April 23. As I mentioned in Friday's Afternoon Commentary, we need to take step back and look at the big picture before getting too excited about what we see on [...]

The cmdty National Basis Indexes have been calculated for Thursday, April 22. The cmdty National Soybean Basis Index came in at 17.31 cents under May, up 0.42 cent for the day and 3.09 cents stronger than the previous Thursday Recall [...]

As I was posting the daily Basis Index Update Wednesday afternoon, the 1.2 cent weaker cmdty National Corn Basis Index kept rolling around in my head. It just didn't fit with everything I've been hearing from across the country about [...]

The cmdty National Basis Indexes have been calculated for Wednesday, April 21. The cmdty National Corn Basis Index was calculated at 11.03 cents under May futures (presumably), 1.19 cents weaker than Tuesday's calculation. I say "presumably" because we could now [...]

The cmdty National Basis Indexes have been calculated for Tuesday, April 20. Today's cmdty National Basis Index table reminds me of one of my favorite shows of all time, The Red Green Show. And with so many great quotes to [...]

The cmdty National Basis Indexes have been calculated for Monday, April 17. The cmdty National Soybean Basis Index was calculated at 18.43 cents under May futures Up 0.87 cent from Friday, extending its strengthening streak to 37 days 4.23 cents [...]

The cmdty National Basis Indexes have been calculated for Friday, April 16. Soybean Basis: I think it's safe to say we can acknowledge the US is basically out of soybeans. The cmdty National Soybean Basis Index was calculated at 19.3 [...]

The cmdty National Basis Indexes have been calculated for Thursday, April 15. The cmdty National Soybean Basis Index was calculated at 20.40 cents under May futures This was also up 0.91 cent from Wednesday and 4.11 cents from last Thursday [...]

The cmdty National Basis Indexes have been calculated for Wednesday, April 14. The cmdty National Soybean Basis Index was calculated at 21.31 cents under May futures This was also up up 0.86 cent from Tuesday and 4.19 cents from last [...]

After posting a look at the Dream Team being assembled by the cmdty National Soybean Basis Index as it has stretched its incredible run to 33 consecutive days of strengthening, a good friend asked if I could do something similar [...]

As I mentioned the last couple days in my daily Basis Index Update, the best word to describe the trend of the cmdty National Soybean Basis Index is "incredible". However, I thought of another way of describing it, one I'm [...]

The cmdty National Basis Indexes have been calculated for Tuesday, April 13. The cmdty National Soybean Basis Index was calculated at 22.17 cents under May futures This was also up up 0.49 cent from Monday and 4.00 cents from last [...]

The cmdty National Basis Indexes have been calculated for Monday, April 12. I would say the stronger across the board basis calculations were a result of the sharp selloff in the grain and oilseed complex Monday but we've seen the [...]

Soybean basis has been an interesting study over the course of the 2020-2021 marketing year. Incredible export demand over the first half of the marketing year (September through February) quickly erased US available supplies with my monthly calculation of stocks-to-use [...]

The cmdty National Corn Basis Index (NCBI, weighted national average) continued to strengthen last week, calculated last Friday* at 12.96 cents under May futures contract (green circle marker). This was up roughly 1.25 cents from the previous Friday's close of [...]

The word of the day seems to be "impressive", as I'm borrowing it from my comments on corn to describe soybean basis. Friday afternoon saw the cmdty National Soybean Basis Index calculated at 29.46 cents under May futures, 2.55 cents [...]

When I post the cmdty National Basis Index updates every afternoon, there is one that seems to consistently be an outlier. Recall from Tuesday's edition when four out of the five were in the green, with the exception being the [...]

Yes, today is the day for corned beef, with a well made Reuben sandwich sounding pretty good for lunch. Speaking of beefed up corn, take a look at what the cmdty National Corn Basis Index (NCBI, weighted national average) has [...]

As I mentioned in Monday's Basis Index Update Quick Take, there is no stopping the cmdty National Soybean Basis Index. It's a runaway train, seeming gaining almost 0.5 cent every day. Monday's calculation of the NSBI was no different, coming [...]

Recent price activity in the Kansas City hard red winter (HRW) wheat market may be raising a few bearish eyebrows, most notably with what looks to be a double-top on the weekly chart for the old-crop May contract and bearish [...]

Though it has been a while since I posted this study, some of you may recall I like to look at national average corn basis over the course of the market year versus the September futures contract. Why September? Because [...]

As I mentioned in Thursday's Basis Index Update, the cmdty National HRW Wheat Basis Index (HWBI, weighted national average) has been running wild and free of late, its potential almost limitless. With the key word being "almost", because Friday is [...]

Those of you of a certain age know where I pulled the title of this piece from (An extra round of Kentucky's finest to you on this Whiskey Wednesday for knowing). The lyric is a perfect fit for this look [...]

The cmdty National Soybean Basis Index (NSBI, weighted national average) was calculated at 39.6 cents under March futures Monday afternoon, the strongest the NSBI has been in relation to nearby futures since January 24, 2020, or roughly 13 months. The [...]

As I mentioned Monday morning, this week was going to be interesting for all the cmdty National Basis Indexes given the delivery period for March futures contracts starts at the end of month. First up is the corn market, with [...]

As you may recall from Wednesday's Afternoon Commentary, I was looking for national average soybean to possibly weaken Wednesday afternoon given the solid commercial selling seen in the nearby March futures spread. However, when the cmdty National Soybean Basis Index [...]

I don't know if there is a more bullish market, in any sector, than US soybeans. As I talked about at the end of January, the 2020-2021 marketing year daily average price for the cmdty National Soybean Price Index (NSPI, [...]

It's interesting to note that since the cmdty National Corn Basis Index (NCBI, weighted national average) rolled from the December 2020 to the March 2021 as the underlying futures contract, the trend has been down (weakening basis). The last reading [...]

As I mentioned in my latest Weekly Column, "$20 Soybeans!", national average basis did indeed weaken slightly with last Friday's calculation of the cmdty National Soybean Basis Index (NSBI, weighted national average) coming in at 44.8 cents under March futures [...]

Over the last few weeks I've talked often of the corn market's real fundamentals of national average basis and futures spreads waving warning signs. The flag team increased in size Tuesday as we now see national average basis starting to [...]

From a media point of view, last week was a busy week for me as I appeared on three ag television shows and two podcasts. The theme across the board was the same: I see signs of concern regarding the [...]

I had a request come in for a look at national average basis for HRW wheat. First, thank you, I appreciate all the requests and conversations we've been having about both fundamental and technical analysis. Second, the 2020-2021 marketing year [...]

As I mentioned in Monday morning's Chart of the Day, "February Lean Hogs: Double Toppin'", time is running out on the Feb lean hog futures contract meaning attention will soon be turning to April. Given that, let's take a look [...]

The cmdty National Corn Basis Index was calculated at 17.2 cents under March futures at the end of last week (solid green line), a new high versus the March futures contract and edging closer to the previous 4-year high of [...]

One of the fundamental factors I talked about in my latest Weekly Column, "Applying the Rules", was the incredible strength of national average soybean basis. This chart compares the 2020-2021 weekly closes of the cmdty National Soybean Basis Index (NSBI, [...]

In Monday's Morning Commentary, I mentioned how national average basis for HRW wheat has started to stagnate as the futures market rallied. And while this is certainly a market factor we need to keep an eye on, particularly with futures [...]

As I mentioned in Monday's Afternoon Commentary and Tuesday's morning's Chart of the Day ("February Live Cattle: Bears Not Hibernating Yet"), much of the pressure that has turned Feb live cattle's secondary (intermediate-term) trend down again continues to come from [...]

Tuesday afternoon brought with it the first calculation of the cmdty National Corn Basis Index (NCBI, weighted national l average) versus the March 2021 futures contract. The initial read came in at 21.8 cents under (large green circle marker), coming [...]

I had a question come in this past weekend from a friend in Kansas regarding milo basis. As you may recall from previous posts, grain sorghum has been on fire over the last year implying ongoing strong demand at a [...]

Corn basis just continues to climb higher, largely ignoring all that is going on around it. The cmdty National Corn Basis Index (NCBI, weighted national average) was calculated at 18.2 cents under December futures Monday afternoon, taking out the previous [...]

The path of the cmdty National Corn Basis Index (NCBI, weighted national average) has been fascinating since this past spring. In late April, as we neared the roll of the NCBI from the May contract (K) to the July issue [...]

I mentioned in Morning Commentary how the cmdty National Soybean Basis Index (NSBI, weighted national average) may be warning us export demand is waning. Not sales, with that ship having sailed with the collapsing inverse seen in futures spreads, but [...]

As I was putting together Weekly Analysis this past weekend, one study that jumped out at me was this look at the cmdty National Soft Red Winter (SRW) Wheat Basis (SWBI, weighted national average). Last Friday saw the SWBI calculated [...]

Those of you who came here from Thursday morning's Chart of the Day, "When Pigs Fly", can now see why I'm bullish lean hog fundamentals longer term. The 2021 edition of this spread (green line) was calculated at (-$2.40) Wednesday [...]

Monday afternoon saw the cmdty National Soybean Basis Index (NSBI, weighted national average) rolled from the in-delivery November contract to the January issue. This is always an interesting time of year when it comes to soybean basis, made even more [...]

As you know, I'm a gib proponent of keeping a close eye on basis, and since I have a national audience I usually focus on the cmdty National Basis Indexes. These are weighted national averages that show the differential between [...]

As I was putting together Weekly Analysis this past weekend, one of the markets that jumped out at me was basis for soft red winter (SRW) wheat. While basis indexes strengthened week-to-week for all the other indexes, including hard red [...]

I have a number friends from southwest Kansas, and one of them checked in Friday morning to talk about milo (grain sorghum to all of you not from the area). He told be he would be finishing harvest today and [...]

Corn basis remains on an incredible run as the 2020-2021 marketing year gets under way with the cmdty National Corn Basis Index (NCBI, weighted national average) calculated at 28.6 cents under December futures (as of Friday, October 2), well above [...]

Many of you will recall that I like to track corn basis on a continuous route, using the cmdty National Corn Price Index (NCPI, weighted national average cash price) versus the September futures contract to remove all the carry and [...]

The corn market, in all its different parts, has embarked on the 2020-2021 marketing year. leaving its initial mark at the close of last Friday, September 4. A key part of the market, I often refer to it as the [...]

A good friend from western Kansas has asked about my thoughts on the milo (grain sorghum for those of you not from Kansas) market in her part of the world. Using the Excel add-on to my cmdtyView (Barchart) system, I [...]

Those of you following along with my commentary know I've been tracking soybean basis, though differently than most as I skipped the waste of time August and September contracts and went starting to November at the end of June as [...]

There are a number of factors starting to lean more toward the bullish side in corn, with the minor (short-term) trend of the December contract turning up (see Tuesday morning's Chart of the Day), due in part to commercial buying [...]

I mentioned a couple key points about national average soybean basis in Wednesday's Morning Commentary, most notably the cmdty National Soybean Basis Index (NSBI, weighted national average) was calculated at 45 1/2 cents under the lightly traded August contract Tuesday [...]

As we quickly approach the end of July, meaning the nearby August lean hog contract becomes more heavily tied to the cash market, attention will turn to the October-December futures spread. At first glance we see a similar picture to [...]

I was keeping a close eye on national soybean basis late last week, so Thursday's jump of 3 1/2 cents certainly grabbed my attention. I waited through Friday's calculation of the cmdty National Soybean Basis Index (NSBI, weighted national average) [...]

I was visiting with a good friend last night about live cattle. I had already poured a bourbon, and he may or may not have been enjoying his favorite adult beverage as well. We were both scratching our head about [...]

Though technically not "basis", the price difference between cash and futures, I want to discuss the sinking of the August-October lean hog futures spread in this space. To me, it gives a clear picture of short-term fundamentals in hogs that [...]

Let's just take a moment to recognize the impressive run national average corn basis has had while based off the July 2020 futures contract. After rolling from the May issue between April 30 and May 1, the cmdty National Corn [...]

Those of you who following along with my analysis over the 2019-2020 marketing year recall I've been fascinated by the strength seen in soybeans. A look at this daily chart for the cmdty National Soybean Basis Index (NSBI, weighted national [...]

You may notice this is my third consecutive post on hard red winter wheat harvest with the first looking at the overall trend (what), the second focusing on central Kansas specifically (where), and this one answering a question generated by [...]

Yes, I've been talking quite a bit about HRW wheat, harvest, and Kansas lately and am doing so again in this basis update. A good friend of mine, a producer consultant, called in and we discussed central Kansas HRW wheat [...]

The cmdty National HRW Wheat Basis Index (HWBI, weighted national average) has been posting some impressive Elliott Wave patterns of late, with the previous 3-wave downtrend leading into the current 5-wave uptrend, the latter a pattern that seems to be [...]