Basis in grain marketing refers to the difference between cash and futures prices. Having a solid understanding of it and its seasonal patterns is crucial to any successful marketing plan. Learn the fundamental concepts involved, including hedging, and explore the basis patterns for wheat in various regions of Idaho in this 8-page bulletin. The information focuses on wheat growers, but other producers can also use the concepts and principles for other crops that have an active futures market.

Recent rains across key Australian wheat growing areas are likely to increase yields, adding several million tons to a crop that had been hit by dry weather and boosting the global supply outlook, analysts said. A larger harvest in Australia, one of the world's biggest exporters, will help to offset crop losses caused by dry conditions in Argentina and Canada, exerting downward pressure on wheat prices Wv1. Rain across many southern regions lifted the wheat harvest outlook to 26 million metric tons from 23 million tons a few weeks ago during Australia's driest September on record, said Stefan Meyer, a grains broker at StoneX in Sydney.

Ukrainian grain and oilseeds crop sector losses could exceed $3.2 billion in 2023 due to the high cost of logistics as well as fuel and fertilizer price hikes, which threaten to reduce sown areas in the next and coming years, farmers unions said on Thursday. Ukraine is one of the leading global producers and exporters of food and its agrarian sector has been traditionally profitable. Ukrainian authorities and farmers did not report financial results in 2022.Before the Russian invasion, Ukraine shipped the bulk of its exports through deep-water ports in the Black Sea, which have been fully or partially blocked since February 2022.

USDA’s latest Grain Transportation Report from the Agricultural Marketing Service highlighted National Agricultural Statistics Service data on grain storage capacity for both on-farm (including bins, cribs and sheds used to store grains and oilseeds on farms) and off-farm facilities (including elevators, warehouses, terminals, mills and crushers). As of Dec. 1, 2022, the U.S. had 25.4 billion bushels worth of total grain storage capacity: 11.8 billion (47%) of off-farm storage and 13.6 billion (53%) of on-farm storage.

From sea to shining sea, each state in the United States exports food and agricultural products. These U.S. exports continue to strengthen the rural economy by bringing in billions of dollars in revenues and supporting tens of thousands of jobs. Each year, USDA Foreign Agricultural Service (FAS) opens and preserves access to foreign markets, protecting and expanding U.S. export opportunities.

A delegation of commodity importers from China on Monday signed agreements to buy billions of dollars’ worth of agricultural goods, mostly soybeans, during a ceremony in Iowa, the U.S. Soybean Export Council (USSEC) said on Tuesday. The agreements, signed at the China-U.S. Sustainable Agricultural Trade Forum, were the first such bulk signings since 2017 between top soybean importer Beijing and the U.S., the world’s second-largest supplier of the oilseed. The deals also included corn, sorghum and wheat, the U.S. Soybean Export Council said.