Basis Index Update

2021-04-13T16:16:33-05:00April 13th, 2021|Basis|

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 [...]

Basis Index Update

2021-04-12T16:19:39-05:00April 12th, 2021|Basis|

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: Supply > Demand

2021-04-06T07:44:57-05:00April 6th, 2021|Basis|

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 [...]

Corn Basis: Staying Strong

2021-04-05T06:54:24-05:00April 5th, 2021|Basis|

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 [...]

Corn Basis: Beefing Up

2021-03-17T08:18:50-05:00March 17th, 2021|Basis|

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 [...]

Soybean Basis: Lucky 13

2021-02-23T08:41:33-06:00February 23rd, 2021|Basis|

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 [...]

Corn Basis: Unstoppable

2021-01-04T09:20:03-06:00January 4th, 2021|Basis|

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 [...]

Soybean Basis: Warning Signs

2020-11-12T07:40:41-06:00November 12th, 2020|Basis|

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 [...]

Soybean Basis: Turn the Page

2020-11-03T07:06:06-06:00November 3rd, 2020|Basis|

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 [...]

Corn Basis: The CUB Update

2020-10-03T15:22:48-05:00October 3rd, 2020|Basis|

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 [...]

Corn Basis: Bullish Build

2020-08-11T08:29:25-05:00August 11th, 2020|Basis|

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 [...]

Bean Basis Breakdown

2020-07-29T08:29:16-05:00July 29th, 2020|Basis|

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 [...]

Soybean Basis: Noteworthy

2020-06-26T06:42:59-05:00June 26th, 2020|Basis|

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 [...]

SRW Wheat Basis: Breakdown

2020-03-30T06:14:37-05:00March 30th, 2020|Basis|

One of the more interesting aspects of the wheat complex last week was the breakdown by national average soft red winter (SRW) wheat basis. I track this by charting the cmdty National SRW Wheat Basis Index (SRBI, weighted national average), [...]

Carb Free Corn Basis

2020-03-23T05:13:44-05:00March 23rd, 2020|Basis|

I had a question come in late Sunday about my corn basis study using the cmdty National Corn Price Index (NCPI, weighted national cash average) minus the September futures contract. I do this because September futures span the entirety of [...]

Soybean Basis: Mais Oui

2020-01-22T05:51:26-06:00January 22nd, 2020|Basis|

Did you happen to catch the last little grain of salt in the wound that was Tuesday's sell-off in soybeans? Not only did the futures market fall more than 13 cents, but the March -May futures spread saw its carry [...]

Lean Hogs: The Long Slide

2020-01-20T08:53:36-06:00January 20th, 2020|Basis|

A week ago in this space I posted a look at the Feb-April lean hog spread showing how the 2020 edition continues to run below the previous 5-year low (January 13, "Still Fundamentally Bearish"). As we enter the home-stretch of [...]

HRS Wheat Basis: Breaking Bad

2020-01-16T06:05:03-06:00January 16th, 2020|Basis|

As I've mentioned in my daily commentary this week, one of the basis markets to watch was U.S. spring wheat, with the cmdty National Hard Red Spring Wheat Basis Index (HSBI, weighted national average) threatening a potential breakdown. Wednesday afternoon [...]

Corn Basis: Rolling On

2019-12-01T11:35:24-06:00December 1st, 2019|Basis|

Today is the First of December, meaning it is also the First Day of Winter according to the meteorological calendar. A look at the cmdty National Corn Basis Index (NCBI, weighted national average) for 2019-2020 (green line) shows national average [...]

HRS Wheat Basis: Revisited

2019-10-16T09:50:18-05:00October 16th, 2019|Basis|

Recall from our previous discussions of the cmdty National Hard Red Spring (HRS) Wheat National Basis Index (HSBI, weighted national average) from September 15, "As the Market Turns", seasonally the HSBI tends to post a low in September. As this [...]

Go to Top