USDA Data Reveals Strong Basis at Gulf and Pacific Northwest Export Points

The latest grain basis data from the USDA AgTransport dataset shows that the strongest positive basis is concentrated at Gulf and Pacific Northwest export points. The week ended September 4, 2026, saw a bid of $9.15 for 30-day-to-arrive hard red spring wheat in Gulf Louisiana against December futures of $7.45, resulting in a basis of $1.70.

Portland 30-day-to-arrive hard red spring wheat followed with a similar bid and same December futures level, producing a basis of $1.55. Gulf Texas 30-day-to-arrive hard red winter wheat posted a bid of $9.27 against December futures of $8.024, resulting in a basis of $1.246.

Among oilseeds, Gulf Louisiana 30-day-to-arrive soybeans showed a bid of $14.12 against December futures of $13.096, with a basis of $1.024. The strongest-positive grouping also included other locations and assets such as Gulf Louisiana 30-day-to-arrive soft red winter wheat and Gulf Louisiana 30-day-to-arrive corn.

On the weakest side, Montana elevator bid hard red winter wheat recorded the lowest basis at -$1.714, with a bid of $6.31 against December futures of $8.024. South Dakota elevator bid hard red winter wheat followed at -$1.204, with a bid of $6.82.

The dataset covers cash bids, futures prices, basis values, contract months, commodities, and market locations for the covered week, referencing December contracts across the listed rows.