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 12/1/2021 (Figure 1)

Soybean Basis 12/1/2021 (Figure 2)

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RaboResearch analyst Sam Taylor will be presenting at the @dtnpf Ag Summit today on implications of the inputs implosion. He will explain why fertilizers and ag chemicals are hard to come by, how long disruptions are expected to last and what to expect in future growing seasons. https://t.co/2GxnAVcDou

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