Soybean Basis Drops Below Historical Averages Across U.S.

US Soybean farmers have faced a challenging year in 2025, and American Soybean Association Economist Jacquie Holland says that’s reflected in current basis levels, especially for farmers in the Northern Plains. “We’re seeing basis levels for soybeans fall below historical averages for most of the country, but especially in North Dakota, South Dakota, and Northern Minnesota, because that area is so reliant on export sales to the PNW (Pacific Northwest).” Holland thinks future financing and securing loans might also be problematic when planning for the next season. “With sluggish revenues being projected, not only does it create revenue issues for farmers, but banks are going to start to be a little bit more worried about debt repayment issues and borrowing limit on operating lines of credit next year, which hurts even more because input prices remain elevated.”