Regional Disparities Persist in Grain Cash Markets

The latest USDA grain basis data shows significant regional disparities in cash markets for grains. The week ended August 7, 2026, saw notable variations in basis values across different regions and commodities.

According to the data, the Gulf, Louisiana Hard Red Spring Wheat led with a strong positive basis of 1.855, followed by Portland Hard Red Spring Wheat at 1.655 and Gulf, Texas Hard Red Winter Wheat at 1.346. Other positive bases included Portland Hard Red Winter Wheat (0.846), Gulf, Louisiana Soybeans (0.74), Gulf, Louisiana Soft Red Winter Wheat (0.73), Gulf, Louisiana Corn (0.698), North Carolina Corn (0.228), Atlantic Coast Corn (-0.052), and Ohio Corn (-0.152).

Conversely, the weakest negative basis values were observed in Montana Hard Red Winter Wheat (-1.714), South Dakota Hard Red Winter Wheat (-1.324), Minnesota Corn (-1.072), Minnesota Soybeans (-1.07), Kansas Soybeans (-1.06), Southeast Corn (-0.962), North Dakota Corn (-0.962), Kansas Hard Red Winter Wheat (-0.904), Oklahoma Hard Red Winter Wheat (-0.854), and South Dakota Corn (-0.842).

The data highlights the spread between cash bids and September futures, with specific basis rows showing the difference. For instance, Gulf, Louisiana 30-Day to Arrive Hard Red Spring Wheat had a bid of 8.65 against a futures price of 6.795, yielding a basis of 1.855.