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Weekly Basis 03/11/2022

The Dow Jones Industrial Average settled at 32,944.19, down 670.61 points for the week.


Crude oil was at $109.46 late Friday, down $5.59 for the week.


The dollar index is at 99.10, up 0.58 for the week.


July corn settled at $7.28¾, up 7½ cents for the week.


Dayton, Ohio Cargill is paying $7.14 for corn, 15 under the July futures which is 15 cents weaker basis than last week. Their fall delivery basis is steady at 30 under the December futures.


Poet at Iowa Falls is paying $7.39 for corn, 10 over he July futures. Their fall 2022 delivery basis is steady at 30 under the December futures.


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.


The big spec funds added 30,336 contracts to their corn position to bring them net long 324,098 contracts of corn. The index funds cut 1,475 contracts from their long position to leave them net long 442,534 contracts of corn.


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