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Start Free Trial →About Louisiana Grain Markets
Louisiana grain prices are set at NOLA. The state is the reference point for Corn Belt basis calculations. All other states' basis is measured against the NOLA terminal price.
Understanding Louisiana Grain Basis
Basis is the difference between the local elevator cash price and the nearest CME futures contract. Basis tells you how your local market is priced relative to the national benchmark.
NOLA is the tightest basis point in the U.S. for corn and soybeans. Gulf Coast Louisiana elevator basis for corn is often within 5¢ of futures — the national benchmark.
A strengthening basis (cash rising relative to futures) signals strong local demand — typically from nearby ethanol plants, feed mills, or export elevators bidding aggressively for grain. A weakening basis signals local oversupply or reduced demand. Watch for basis moves of 10¢ or more in a single week as an actionable signal.
Louisiana Grain Elevator Landscape
Key Louisiana elevators: Bunge NOLA, Cargill New Orleans, ADM New Orleans — the largest grain export complex in the world.