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Weekly Basis 3/10/24

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


The Dow Jones Industrial Average (DJIA) settled at 38,723, -364.69 points for the week.

Crude oil settled at $77.85, -1.96.

The Dollar Index settled at 102.74, -1.15.

The Baltic Dry Index (a shipping freight-cost index) settled at 2,345, +142 for the week.

 

Corn


May futures at $4.39¾, +15¢ for the week.


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

  • The US national average basis is -28H, 2¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -12H, 3¢ firmer, $4.28 cash price.

  • Iowa Falls Poet’s spot basis is 5H, 5¢ firmer, $4.44 cash price.


COT Report (Commitment of Traders)

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