Weekly Cash Commentary for week ending 10/15/2015
US corn basis was mostly steady on the week while soybeans posted a modest 1-cent advance as futures climbed to two-year highs.
Corn basis levels along the Gulf were up sharply this week, posting an 8-cent advance as late season export business continues to be stronger than normal for this time of year. River terminals were more muted in their gains, but managed a 2-cent improvement on the week. Corn ethanol plants were mostly steady this week.
In soybeans, the strength in the export market continues to keep basis levels supported. This week Gulf basis was up 10 cents which helped lift river terminals by nearly 6 cents a bushel. After being up sharply last week, soy crush plants managed only a 1-cet advance for the week.
"The risk of trading futures, hedging, and speculating can be substaintial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID:0307930)
US Corn Price Idx:ZCPAUS.CM
open: 7.1556
high: 7.1706
low: 7.0057
close: 7.0537
US Soybean Price Idx:ZSPAUS.CM
open: 15.6192
high: 15.6592
low: 15.1946
close: 15.2247
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 9.8366
high: 9.9812
low: 9.5136
close: 9.5163
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 9.561
high: 9.6385
low: 9.0763
close: 9.1219
Copyright © 2022 WATT Global Media. Allmarket datais provided by Barchart Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please seedisclaimer.
