Over the past couple of weeks, basis bids at the six regional elevators the Red River Fam Network follows widened a bit for spring wheat, was steady for corn and mixed for soybeans. Spring wheat basis bids widened one nickel ranging from 40 cents under the March futures at Ulen, Minnesota to 70 cents under March at New Salem, North Dakota. Corn basis is mostly unchanged, ranging from 53 cents under the March futures contract in Ulen to 65 under in Minot. Soybean basis improved 10 to 15 cents in Minot, Finley and Grebnor, South Dakota. It’s unchanged at Ulen and widened five cents at Warren, Minnesota. Soybean basis bids range from $1.15 under to $1.45 under the March futures contract. Southwest Grain at New Salem has had no soybean bid for the past three to four weeks.
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