Cash Basis At Expiration of January Soybean Futures

Posted on January 14, 2014

The January soybean contract expired today. Of the 13 sites listed, the soybeans futures contract came within ¢0.10 of only 4 of them. The export terminal in the gulf had the highest cash basis at ¢0.98.

SOYB Cash Basis at Exp Jan2014

The export terminals in the gulf are only about 38 percent full, which is likely contributing to the large basis.  A cash basis +/- ¢0.10 per bushel is considered full convergence. Only 4 terminals met this criteria today.