Weekly Basis 5/31/26
- Wright team
- 2 hours ago
- 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 51,032, +453 points for the week.
Crude oil settled at $87.76, -8.84.
Dollar Index settled at 98.94, -0.38.
Baltic Dry Index (a shipping freight-cost index) settled at 3,224, +233.
Corn
July futures settled at $4.46¾, -16½¢ for the week.
December corn settled at $4.75, -11½¢ for the week.
Basis (N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis = Cash price)
The US national average basis was -38N, 1¢ firmer.
Dayton, Ohio Cargill’s spot basis was 20N, steady, $4.67 cash price.
Iowa Falls Poet’s spot basis was -28N, 2¢ firmer, $4.18 cash price.
COT Report (Commitment of Traders, chart below):
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