The basis of spot and futures of soybean meal refers to the difference between spot and futures prices of soybean meal, that is, basis = spot price-futures price. The basis is sometimes positive (called reverse market at this time) and sometimes negative (called forward market at this time). If it is a positive market, the spot price is higher than the futures price. At this time, due to various expenses such as warehouse receipt fee and time fee, it means that futures prices will rise, but the opposite is true for a positive market. This is the basic law, depending on the price difference between futures and spot. I hope this answer will help you!