It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.
Dow Jones Industrial Average (DJIA) settled at 39,498, -239.72 points for the week.
Crude oil settled at $76.98, +2.84.
Dollar Index settled at 103.15, -0.07.
Baltic Dry Index (a shipping freight-cost index) settled at 1,670, -5 for the week.
Corn
September futures at $3.76¾, -9¾¢ 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 -10U, steady.
Dayton, Ohio Cargill’s spot basis is -15U, 3¢ weaker, $3.62 cash price.
Iowa Falls Poet’s spot basis is 20U, 5¢ weaker, $3.96 cash price.
COT Report (Commitment of Traders, chart below)
Commercial Traders change is -38,604 to 11,457 net short from net long last week (bought 193.02 mil. bu. more of physical grain than sold).
Big Spec Funds change is +52,551 to 242,545 net short.
Open Interest change is -7,614 to 2,016,786.
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