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Weekly Cash Commentary

Cash Commentary for Week Ending July 06

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Us dollars 84594 960 720

Grain basis got a lift this week with US average corn values up 3 cents and soy up 4 cents.

Soy basis was the big winner thanks to dual strengths from the processing and export channels. Soy plants as a group were up 4 cents, with pushes becoming common in the Western Cornbelt. Soy crush margins continue to be record high for this time of year, and with the trade-distorting tariffs in play, US soy crush facilities are a prime beneficiary of lower domestic soy prices while their competitors in South America face escalating soy prices. River terminals also were higher on the week thanks to a modest lift at the Gulf this week.

In the corn market, Missouri continues to see a strong basis as pushes there try to stimulate flow into feed buyers. Ethanol plants also were stronger on the week, with a 3-cent average gain across the group. River terminals however were unchanged on the week.

The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)

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