About this chart: This is the spread between November 2025 and July 2026 soybean prices. You can see that in March 2024, the July 2026 soybean futures contract was trading 22 cents below the November 2025 contract. As the soybean price moved lower and yield prospects improved, the spread was as high at 62 cents in early August. It looks like the spread is about as wide as it will get. If you have storage, then you should roll your November hedges out to May or July 2026.
What does this mean for you: The large carrying charge and likely improvement in basis will more than pay your interest bill for holding soybeans into next year.