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Weekly Basis 4/21/24

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

The Dow Jones Industrial Average (DJIA) settled at 37,986, +3.16 points for the week.

Crude oil settled at $83.24, -2.21.

The Dollar Index settled at 106.12, +0.11.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,919, +190 for the week.



May futures at $4.33½, -2¢ 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 -17K, 2¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -5K, steady, $4.29 cash price.

  • Iowa Falls Poet’s spot basis is 25K, 5¢ firmer, $4.58 cash price.

COT Report (Commitment of Traders, chart below)

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