Weekly Basis 11/1/26
It's our weekly U.S. grain market analysis and outlook for corn, soybeans and wheat, including traders positioning, basis bids tracking, crush margins, weekly news wrap-up and comments.
The Dow Jones Index settled on Friday at 51,770, -445 points for the week.
Crude oil settled at $102.95, -0.49.
Dollar Index settled at 101.96, +0.21.
Baltic Dry Index (a shipping freight-cost index) settled at 2,714, +54.
Corn
December futures settled at $4.47¾, -8¼¢ for the week.
Basis (Z = Dec; e.g. 10Z means 10¢ over Dec futures) (Futures price + Basis = Cash price)
The US national average basis was -38Z, 1¢ firmer.
Dayton, Ohio Cargill’s spot basis was -20Z, steady, $4.28 cash price.
Iowa Falls Poet’s spot basis was -35Z, 2¢ weaker, $4.12 cash price.
COT Report (Commitment of Traders, chart below):
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