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Weekly Basis 02/26/2022

The Dow Jones Industrial Average settled at 34,058.75, down 20.43 points for the week.

Crude oil was at $92.08 late Friday, up 51 cents for the week.

The dollar index is at 96.55, up 0.48 for the week.


 

May (K) corn settled at $6.55¾, up 3 cents for the week.

Dayton, Ohio Cargill is paying $6.41 for corn, 15 under the May futures, which is an 11 cent weaker basis than a week ago. Their fall delivery basis is steady at 30 under the December futures.

Poet at Iowa Falls is paying $6.51 for corn, 5 under the May futures, which is a 3 cent weaker basis than a week ago. Their fall 2022 delivery basis is steady at 30 under the December futures.

The March to July corn carry went from -7¼ to -15½ this week. Super bullish!

The CFTC’s Commitment of Traders Report (COT) is issued every Friday afternoon. It reports open interest as of the close of business the previous Tuesday.

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