It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.
Dow Jones Industrial Average Index settled at 41,175, +515.32 points for the week.
Crude oil settled at $74.96, -1.64.
Dollar Index settled at 100.68, -1.72.
Baltic Dry Index (a shipping freight-cost index) settled at 1,762, +71 for the week.
Corn
September futures at $3.67¾, -2¾¢ 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 -13U, 2¢ weaker.
Dayton, Ohio Cargill’s spot basis is -28U, 8¢ weaker, $3.40 cash price.
Iowa Falls Poet’s spot basis is 25U, steady, $3.92 cash price.
COT Report (Commitment of Traders, chart below)
Commercial Traders change is +5,036 to 14,669 net long (sold 25.18 mil. bu. more of physical grain than bought)
Big Spec Funds change is -8,889 to 257,896 net short.
Open Interest change is -34,645 to 2,005,047.