The Dow Jones Industrial Average (DJIA) settled at 33,876.78, +114.02 points for the week.
Crude oil settled at $70.35, -1.52.
The Dollar Index settled at 103.55, -0.49.
The Baltic Dry Index (a shipping freight-cost index) settled at 1,055, +118 points for the week.
Below is corn, soybeans and wheat basis outlook this week.
July futures at $6.04¼, -4¾¢ for the week.
December futures at $5.30½, -10¾¢ for the week.
Basis (N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis = Cash price)
The US national average basis is 24N, 11¢ weaker.
Dayton, Ohio Cargill’s spot basis is 45N, steady, $6.49 cash price.
Iowa Falls Poet’s spot basis is 50N, 10¢ weaker (moved to September futures), $6.54 cash price.
COT Report (Commitment of Traders)
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. Open Interest is the number of contracts on the books. You can find our explanation of Open Interest and Funds trades here: www.wrightonthemarket.com/post/open-interest-of-specs