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Weekly Basis 6/3/22

The Dow Jones Industrial Average settled at 32,899.70, up 686.74 points for the week.

Crude oil settled at $120.26, up $5.19 for the week.

The dollar index settled at 102.16, up 0.52 for the week.


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


 

Corn


July corn settled at $7.27, down 50¼ cents for the week and December corn was down 40 cents to settle at $6.90.


Dayton, Ohio Cargill is paying $7.37 for corn, 10 over the July futures, which is a 10 cent firmer basis than a week ago. Their fall delivery basis is steady at 30 under the December futures.


Poet at Iowa Falls is paying $7.54 for corn, 27 over the July futures, which is a steady basis with 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.


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