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Weekly Basis 03/26/2022

The Dow Jones Industrial Average settled at 34,8761.24, up 106.31 points for the week.


Crude oil was at $112.71 late Friday, up $8.33 for the week.


The dollar index settled at 98.81, up 0.59 for the week.


 

July corn settled at $7.34¾, up 22¼ cents for the week.


Dayton, Ohio Cargill is paying $7.20 for corn, 15 cents under the July, steady with a week ago. Their fall delivery basis is steady at 30 under the December futures.


Poet at Iowa Falls is paying $7.45 for corn, 10 over the July futures, which is 3 cents weaker than a week ago. 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 8,651 contracts to their corn position to bring them net long 304,695 contracts of corn. The index funds added 7,722 contracts to their position to bring them net long 474,754 contracts of corn.


Corn open interest increased by 66,274 contracts to 2,149,285 contracts.


Eastern Corn Belt ethanol crush margin is $2.36 today compared to $2.26 last week and $1.46 a year ago. The price of corn subtracted from the value of processed products = ethanol crush margin.


 

July soybeans settled at $16.88½, up 42¾ cents for the week.


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