Weekly Basis 5/3/26
- Wright team
- May 3
- 4 min read
It's our weekly U.S. grain market analysis and outlook for corn, soybeans and wheat, including traders positioning, basis bids tracking, crush margins, weekly news wrap-up and comments.
The Dow Jones Index settled on Friday at 49,499, +269 points for the week.
Crude oil settled at $102.5, +7.62.
Dollar Index settled at 98.21, -0.30.
Baltic Dry Index (a shipping freight-cost index) settled at 2,730, +65.
Corn
July futures settled at $4.80¼, +16¾¢ for the week.
December corn settled at $4.98¾, +14½¢ for the week.
Basis (K = May; e.g. 10K means 10¢ over May futures) (Futures price + Basis = Cash price)
The US national average basis was -42N, 5¢ firmer.
Dayton, Ohio Cargill’s spot basis was 20N, 2¢ firmer, $5.00 cash price.
Iowa Falls Poet’s spot basis was -33N, 1¢ weaker, $4.47 cash price.
COT Report (Commitment of Traders, chart below):
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