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Weekly Basis 6/28/26

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 51,876, +311 points for the week.

Crude oil settled at $70.24, -7.30.

Dollar Index settled at 101.37, +0.61.

Baltic Dry Index (a shipping freight-cost index) settled at 2,524, -198.



Corn


July futures settled at $4.12¾, -4¾¢ for the week.

December corn settled at $4.41½, -2½¢ 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 -28N, 2¢ firmer.

  • Dayton, Ohio Cargill’s spot basis was 25N, 5¢ firmer, $4.38 cash price.

  • Iowa Falls Poet’s spot basis was -11N, 9¢ firmer, $4.01 cash price.


COT Report (Commitment of Traders, chart below):

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