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Weekly Basis 3/24/24

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


The Dow Jones Industrial Average (DJIA) settled at 39,476, +761.13 points for the week.

Crude oil settled at $80.82, -0.18.

The Dollar Index settled at 104.43, +0.98.

The Baltic Dry Index (a shipping freight-cost index) settled at 2,196, -178 for the week.

 

Corn


May futures at $4.39¼, +2½¢ 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 -26K, 1¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -15K, steady, $4.24 cash price.

  • Iowa Falls Poet’s spot basis is 8K, 3¢ firmer, $4.47 cash price.


COT Report (Commitment of Traders)

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