If You Haven't, Try Our Daily Grain Market Reports FREE for 30 Days!

Weekly Basis 5/27/22

The Dow Jones Industrial Average settled at 32,212.96, up 951.06 points for the week.


Crude oil settled at $115.07, up $2.37 for the week.


The dollar index settled at 101.64, down 1.42 for the week.


Below is corn, soybeans and wheat basis situation this week.


 

Corn


July corn settled at $7.77¼, down 1½ cents for the week and December corn was down 2 cents to settle at $7.30.


Dayton, Ohio Cargill is paying $7.77 for corn, even with July futures, which is a 5 cent weaker basis than a week ago. Their fall delivery basis is steady at 30 under the December futures.


Poet at Iowa Falls is paying $8.04 for corn, 27 over the July futures, which is a 5 cent firmer basis than a week ago. Their fall 2022 delivery basis is steady at 30 under the December futures.


The CFTC’s Commitment of Traders Report (COT) is issued every Friday afternoon. It reports open interest as of the close of business the previous Tuesday.


The big spec funds cut 46,229 contracts from their corn position to leave them net long 204,496 contracts of corn. The index funds cut 6,169 contracts from their position to leave them net long 476,780 contracts of corn.


Want to read more?

Subscribe to www.wrightonthemarket.com to keep reading this exclusive post.

Subscribe Now