Crop Basis Tool

The Purdue Center for Commercial Agriculture’s Crop Basis Tool can be used to examine weekly nearby and deferred basis for corn and soybeans in Illinois, Indiana, Michigan, and Ohio. Daily cash price data from individual grain elevators and processors are averaged within each crop reporting district to create a regional average cash price series. The regional average cash price data is used to compute weekly basis (cash price minus futures price) for corn and soybeans, using Wednesday cash and futures prices to generate weekly basis data for each crop and crop reporting region. The number of buyers vary by crop reporting district and by week, depending on how many buyers choose to report their cash prices. Cash price data are provided by DTN and represent approximately 2,000 buyers across the four states.

To facilitate comparisons across years in the Crop Basis Tool, a crop year is defined as having 48 weeks with four weeks per month. When a month has five Wednesdays, prices from the fourth and fifth Wednesdays are averaged and reported as the fourth week. As a result, Week = 1 is the first week of September (beginning of the crop year), Week = 5 is the first week of October, and so on.

Latest Update (11/04/2022): As harvest continues to roll on, basis across much of the Eastern Corn Belt has firmed, as expected. For example, average soybean basis in southwest Indiana reached a low of $0.92/bu. under January ’23 soybean futures during the last week of October. This week soybean basis in southwest Indiana improved $0.35/bu. to $0.57/bu. under January ’23 soybean futures, which is $0.26 weaker than the historical 5-year average soybean basis for the first week of November. Similarly, average corn basis in southwest Indiana reached a low of $0.38/bu. under December ’22 corn futures during the second week of October. In the past 3 weeks corn basis in southwest Indiana has improved $0.15/bu. to $0.23/bu. under December ’22 corn futures, which is $0.13/bu. weaker than the historical 5-year average corn basis for the first week of November. As harvest wraps up we expect basis to continue to improve. Visit the Purdue Crop Basis Tool to check current corn and soybean basis levels and historical basis trends for your local area.




January Corn & Soybean Outlook Update

January 13, 2023

Nathan Thompson and Michael Langemeier joined James Mintert on this podcast to discuss new information from USDA’s January 2023 World Ag Supply & Demand Estimates (WASDE) report, which was released on January 12th. During the podcast they also provided an update on Eastern Corn Belt corn and soybean basis bids, marketing opportunities for both old and new crop corn and soybeans along with current breakeven estimates for corn and soybean production in 2023.


2023 Crop Cost and Return Guide

January 13, 2023

The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. These are the January 2023 crop budget estimations for 2023.


2023 Top Farmer Conference Recap: Corn & Soybean Outlook with Iowa State’s Chad Hart

January 12, 2023

Dr. Chad Hart, crop marketing specialist from Iowa State University, joined Purdue’s Brady Brewer on January 6, 2023 at the Purdue Top Farmer Conference to discuss the key factors he is monitoring that will impact both the corn and soybean price outlook in 2023 and 2024.



Farming Together: Cultivating Relationships and Having the Cash to Bring in the Next Generation

Where do you begin if you’re looking to transfer your farm to the next generation? Before starting with a legal entity, it’s important to come together and establish common goals and a direction for where you picture your operation moving in the future. Our Farming Together workshop will help you begin discussions to lead you to a successful transition.

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Commodity Classic 2023

The Purdue University Center for Commercial Agriculture will present a Learning Center Session on Thursday, March 9 entitled Financial and Risk Management Strategies for 2023, at Commodity Classic in Orlando, Florida.

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Monthly Corn & Soybean Outlook Update

Webinar each month following USDA’s release of the updated World Agricultural Supply and Demand Estimates (WASDE). Catch the next monthly update on February 9 for the corn and soybean outlook following release of USDA’s February Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. Registration is free.

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