Futures Prices for Farmers
Stay updated with the latest futures prices for key agricultural commodities.
Farmer’s Market Snapshot
Today’s front months across revenue crops and key input costs.
↑ 0.54% +2.50 Today
Soybeans CBOT • ZSN26 1,197.75 ¢/bu↑ 0.29% +3.50 Today
Chicago Wheat CBOT • ZWN26 650.50 ¢/bu↑ 0.46% +3.00 Today
Canola (ICE) ICE • RSN26 C$753.70 / MT↑ 0.39% +2.90 Today
ULSD (Diesel) NYMEX • HOM26 $3.9312 / gal↑ 2.60% +0.10 Today
Propane (MB-LDH) CME • B0K26 $0.8768 / gal↓ 0.42% 0.00 Today
Urea (US Gulf) CBOT • UFVK26 $580.50 / ton↓ 0.51% -3.00 Today
Live Cattle CME • LEM26 249.88 ¢/lb↑ 0.29% +0.73 Today
Grain & Oilseeds
Direct risk management in your core revenue crops is the foundation of farm profitability. Monitor futures benchmarks for corn, soybeans, canola, and all three major wheat classes to optimize your hedging windows.
Livestock
Livestock markets dictate your ultimate revenue potential and feed-conversion profitability. Monitor live cattle, feeder cattle, and lean hog futures to manage herd risk, time your market placements, and secure optimal hedging margins.
Dairy
Dairy profitability depends on managing the spread between component revenue and shifting feed costs. Track liquid milk classes alongside manufactured blocks, butter, and whey to forecast your milk check and lock in favorable margin floors.
Energy
Fuel and crop drying are among your heaviest variable expenses. Monitor diesel (ULSD), propane, gasoline, and crude futures to anticipate input cost shifts, gauge logistics pressures, and protect your net margin.
Fertilizer
Nitrogen and phosphate fertilizers represent your single highest crop-input cost. Track spot Urea and DAP futures to time your prepayments, optimize physical supply purchases, and build accurate crop-budget projections.
Currencies
The relationship between the U.S. and Canadian dollar directly dictates your local grain value and cross-border input purchasing power. Track the CAD benchmark to time your international sales, manage currency risk, and protect your net returns.
Contract Roll Calendar
Avoid delivery risk and expiry surprises. Here are common markets, months, and typical roll windows. For exact FND/LTD dates and tick specs, open the contract specs.
Corn
Grain & Oilseeds • CBOT ZC
Contract Months
Mar • May • Jul • Sep • Dec
New‑Crop Reference
Dec
FND/LTD (typical)
Month‑prior FND; LTD mid‑month.
Recommended Roll Window
Roll ~5–10 trading days before FND/LTD.
DISCLAIMER: Dates and roll windows are guidelines. Always confirm FND/LTD and holidays on your exchange calendar or with your broker.FAQs
What futures matter most to grain farms?
For most grain operations, start with revenue markets and the input markets that drive costs.
- Revenue: Corn, Soybeans, Wheat (Chicago/SRW, Kansas City/HRW, Minneapolis/HRS). Canadian growers should also track Canola.
- Key inputs (costs): ULSD (diesel) for fuel, Propane for grain drying, and Fertilizer (Urea, DAP).
- Also useful: Natural Gas (fertilizer feedstock), Crude/Refined products (broader energy trend), and USD/CAD if you sell or buy across the border.
How do I use futures to estimate cash price?
Use your local basis to translate board price to a farmgate estimate.
Formula:
Estimated Cash = Futures + Basis
- Pick the delivery month your buyer is quoting.
- Find the current futures price for that month.
- Add your local basis (it can be negative or positive).
Example: If Dec Corn = $5.20 and your basis is –$0.25, estimated cash ≈ $4.95.
Tip: Basis changes over time—always check posted bids for actual offers.
What affects basis in my area?
Basis = local reality. Common drivers:
- Local supply & demand: harvest pressure, on-farm/storage availability, end-user needs.
- Logistics: rail/barge capacity, river levels, truck availability, diesel costs.
- Buyer competition & margins: ethanol/crush plants, mills, exporters.
- Quality & specs: moisture, protein, damage.
- Seasonality & weather: storms, freeze/thaw, road bans.
- Currency: Canadian Dollar (CAD/USD) shifts can move cross-border basis.
Should I track diesel/propane alongside grain prices?
Yes. They’re big, volatile input costs. Watching ULSD (diesel) and Propane next to grain helps you:
- Budget and lock in fuel/drying costs when prices dip.
- Protect margins by timing purchases relative to crop price moves.
- Plan harvest/drying with fewer surprises.
Which months are “new-crop” vs “old-crop”?
“Old-crop” = grain already in the bin/current marketing year. “New-crop” = the upcoming harvest. Typical references:
- Corn: Dec = new-crop; Mar/May/Jul = old-crop.
- Soybeans: Nov = new-crop; Jan/Mar/May = old-crop.
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Wheat:
- Chicago SRW & KC HRW: Jul = new-crop; Sep/Dec/Mar/May = old-crop.
- Minneapolis Spring Wheat (HRS): Sep = new-crop; Dec/Mar/May/Jul = old-crop.
- Canola (ICE): Nov = new-crop; Jan/Mar/May = old-crop.
Note: Local harvest timing and buyer conventions can vary—match the month your buyer uses.
Futures Market Data: Futures price data on Farmbucks is provided by DTN, CME Group, and ICE. This data is for informational purposes only and may be subject to delays or inaccuracies. Please consult official exchange sources or your broker for trading decisions.
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