Grain Basis Update

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Basis maps utilize spatial analysis to estimate the effects of supply and demand, transportation and commodity costs on local grain prices.

Basis is the difference between local cash prices and the nearby futures price. The next crop contract set to expire on the Chicago Board of Trade is known as nearby futures.

Local cash prices for corn and soybeans are gathered from 2800-3200 locations and then analyzed using a Geographic Information System (GIS) to estimate the basis of regions without observations. These maps are colored in five cent intervals with the dotted line delineating positive from negative areas. With few cash prices available in the South Eastern and Western regions, care should be taken when interpreting the estimated basis outside the Corn Belt. Wednesday price data is used in these maps and updates are posted weekly.

Corn Basis 7/1/2020 (Figure 1)
Soybean Basis 7/1/2020 (Figure 2)

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#RaboResearch Animal Protein Analyst Don Close spoke with Feedstuffs about the unique challenges facing the nation’s farmers, ranchers and cattle raisers and offering his insights into a path forward for producers and packers. Listen at the link below! https://t.co/735kOVlt3L

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As the rapid pace of planting has overtaken demand, almond prices will likely continue to fall. Analyst Roland Fumasi says underperforming orchards that don't meet consistent and profitable yields for their region should be retired soon, regardless of age. https://t.co/JEQdNflPd1

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