Spring Wheat basis bids at the six regional grain elevators followed by the Red River Farm Network is mostly unchanged from one week ago. The spring wheat basis at Southwest Grain at New Salem, North Dakota narrowed by one penny. The corn basis at New Salem narrowed by three cents and widened by five cents at Ulen, Minnesota. The soybean basis saw the most movement, with Ulen narrowing by 10 cents, Grebnor, South Dakota and Warren, Minnesota’s soybean basis widening by 12 cents. Minot’s bean basis widened by 15 cents. Spring wheat basis bids ranges from 50 to 95 under the September futures contract. Corn basis levels range from 27 to 70 cents under the September futures and the soybean basis bids range from $1.05 to $1.50 under the September futures contract.
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