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Weekly Basis 2/25/24

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


The Dow Jones Industrial Average (DJIA) settled at 39,132, +503.54 points for the week.

Crude oil settled at $76.57, -2.65.

The Dollar Index settled at 103.96, -0.32.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,866, +256 for the week.

 

Corn


March futures at $3.99¾, -16¾¢ for the week.


Basis (H = March; e.g. 10H means 10¢ over March futures) (Futures price + Basis = Cash price)

  • The US national average basis is -19H, 1¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -5H, steady, $3.95 cash price.

  • Iowa Falls Poet’s spot basis is 0H, 10¢ weaker, $3.99 cash price.


COT Report (Commitment of Traders)

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