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Start Free Trial →About Montana Grain Markets
Montana grain prices follow Pacific Northwest terminal markets (Portland elevator basis). Distance from export terminals means wider basis than most states.
Understanding Montana 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.
Montana spring wheat basis runs 50–90¢ negative, among the widest in the country due to rail haul distance to Pacific Northwest terminals.
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.
Montana Grain Elevator Landscape
Key Montana elevators: Montana Grain Growers, Highline Grain, CHS Montana.