Gulf Locations Dominate Positive Basis Rankings in USDA Report

The United States Department of Agriculture (USDA) released its weekly grain basis report on August 6, 2026. The data covers the week ending July 31, 2026. Gulf locations led the positive basis rankings with Hard Red Spring Wheat at Gulf-Louisiana posting the highest basis at 1.852. This means that the cash bid for this commodity was $8.75 against September futures of $6.898.

Hard Red Winter Wheat at Gulf-Texas followed closely, with a basis of 1.608 and a cash bid of $8.68 against futures of $7.072. Portland Hard Red Spring Wheat reached a basis of 1.502, while Gulf-Louisiana Soybeans stood at 1.058.

On the other hand, Montana Hard Red Winter Wheat recorded the weakest basis at -1.402, with a cash bid of $5.67 against September futures of $7.072. Minnesota Corn followed closely, with a basis of -1.028, and Minnesota Soybeans and South Dakota Hard Red Winter Wheat both had bases of -1.002.

The report also highlighted regional cash bids and futures prices for various commodities. For corn, the highest cash bid was $5.47 at Gulf-Louisiana, while the lowest was $3.61 in Minnesota. Soybean bids ranged from $12.93 at Gulf-Louisiana to $10.87 in Minnesota.