Basis Calculator
Basis is the local cash price minus the futures price. Enter both to see your basis - or enter a futures price and your usual basis to estimate a cash price. Use the same currency and unit for every field.
How it is calculated
Basis = cash price − futures price. A negative basis ("under") means the local price is below futures - common in surplus regions far from export ports; a positive basis ("over") means it is above. Example: a cash price of 185 euros per tonne against futures at 200 is a basis of −15, or 15 under. If futures later rise to 210 and the basis stays at −15, the cash price would be about 195.