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Weekly Basis 6/30/24

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.

The Dow Jones Industrial Average (DJIA) settled at 39,119, -31.47 points for the week.

Crude oil settled at $81.46, +0.87.

The Dollar Index settled at 105.85, +0.02.

The Baltic Dry Index (a shipping freight-cost index) settled at 2,050, +53 for the week.



September futures at $4.07½, -33¢ for the week.

Basis (U = Sept; e.g. 10U means 10¢ over September futures) (Futures price + Basis = Cash price)

  • The US national average basis is -19U, 6¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -17U, 3¢ firmer, $3.91 cash price.

  • Iowa Falls Poet’s spot basis is 20U, 7¢ firmer, $4.27 cash price.

COT Report (Commitment of Traders, chart below)

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