Futures Prices for Farmers
Farmer’s Market Snapshot
Today’s front months across revenue crops and key input costs.
↑ 1.95% +8.25 Today
Soybeans CBOT ZS • Nov 2025 USX 1,071.50↑ 2.86% +29.75 Today
Chicago Wheat CBOT ZW • Dec 2025 USX 530.00↑ 3.41% +17.50 Today
Canola (ICE) ICEFC RS • Nov 2025 USX 623.30↑ 0.94% +5.80 Today
ULSD (Diesel) NYMEX HO • Nov 2025 USX 2.46↑ 2.32% +0.06 Today
Propane (MB-LDH) CME B0 • Oct 2025 USX 0.65↑ 0.09% +0.00 Today
Urea (US Gulf) CBOT UFV • Oct 2025 USX 378.00↑ 0.07% +0.25 Today
Live Cattle CME LE • Oct 2025 USX 226.90↓ 2.93% -6.85 Today
Grain & Oilseeds
Track corn, soybeans, wheat (SRW/KC/Minny), and canola—your core revenue crops. Use these prices to plan sales, manage risk, and line up basis with local cash bids.
Livestock
Track feeder cattle, live cattle, and lean hogs. Use these prices to manage livestock risk and plan sales.
Dairy
Watch Class III & IV milk plus whey, butter, and powder. Helpful for timing milk sales and managing margins when feed costs shift.
Energy
Keep an eye on diesel (ULSD), propane, gasoline, and crude—big drivers of fuel and drying costs. Tracking energy next to grain helps protect your overall margin.
Fertilizer
Watch Urea, UAN, and DAP prices closely. These inputs significantly impact your production costs, so understanding their trends is crucial for effective budgeting.
Currencies
Monitor USD/CAD exchange rates, especially if you buy inputs or sell outputs across the border. Currency fluctuations can impact your profitability.
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.
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, UAN, 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: USD/CAD 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; May (and earlier) = old-crop.
- Minneapolis Spring Wheat (HRS): Sep = new-crop; 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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