Weekly Cash Commentary for week ending 08/05/2016
National basis was mixed to end the week.
Corn basis showed the most volatility this week. On average, corn basis rose half a cent driven by the central plains and ethanol plants. Ethanol plants gained almost 2 cents per bushel. This was partly driven by higher demand in Brazil for U.S. Ethanol. Corn along the river defied the trend and lost almost 6 cents per bushel.
Overall, soybeans were the biggest loser this week off more than 8 cents per bushel. Crush facilities lost 4 ½ cents. Even with strong exports, basis losses along the river were off 7 ¼ cents keeping in step with corn losses.
The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a dba of Foremost Trading LLC (NFA ID: 0307930)
US Corn Price Idx:ZCPAUS.CM
open: 7.4463
high: 7.635
low: 7.4113
close: 7.5613
US Soybean Price Idx:ZSPAUS.CM
open: 16.6629
high: 16.957
low: 16.5868
close: 16.8841
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 11.1622
high: 11.1622
low: 10.8962
close: 11.0364
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 10.285
high: 10.295
low: 9.9995
close: 10.1353
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