As the 2014-15 crop marketing year draws to a close, let's look at how basis fared in the past 12 months. In general, at the end of August 2015, corn, soybean and wheat basis is about 30 to 40 cents weaker than the 5-year averages for each crop.
The national average soybean basis for the last week of the crop year is at 7 cents under the November futures, 1 cent weaker than last week and 34 cents weaker than the DTN five-year average at this time.
The average soybean basis for the 2014-15 crop year was -35. Basis ...