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Weekly Basis 11/24/24

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.


Dow Jones Industrial Average Index settled at 44,297, +851.52 points for the week.

Crude oil settled at $71.18, +4.23.

Dollar Index settled at 107.49, +0.82.

Baltic Dry Index (a shipping freight-cost index) settled at 1,537, -248 for the week.

 

Corn


December futures at $4.25½, +1½¢ for the week.


Basis (Z = Dec; e.g. 10Z means 10¢ over December futures) (Futures price + Basis = Cash price)

  • The US national average basis is -20Z, steady.

  • Dayton, Ohio Cargill’s spot basis is 5Z, 5¢ firmer, $4.31 cash price.

  • Iowa Falls Poet’s spot basis is even Z, 7¢ firmer, $4.25 cash price.


COT Report (Commitment of Traders, chart below)

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