Basis Update

In a review of the cash prices at the seven grain elevators followed by the Red River Farm Network, soybeans vary widely ranging from a low of $8.64 for soybeans at CHS Sun Prairie at Minot to $9.35 ¼ at New Vision Cooperative at Worthington. The basis ranges from 85 cents under November futures to $1.55 under. For corn, the cash bid ranges from $3.49 at Minot and New Salem to $3.79 ½ at Worthington. The basis ranges from 40 under to 70 under. For spring wheat, the cash price for spring wheat varies from $4.74 at CHS Southwest Grain at New Salem to $4.89 at Minot, Finley and Ulen. The basis is narrower, from 70 under to 85 under.