Weekly Basis 1/21/24

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.

The Dow Jones Industrial Average (DJIA) settled at 37863.8, +270.82 points for the week.

Crude oil settled at $73.71, +0.95.

The Dollar Index settled at 103.24, +0.80.

The Baltic Dry Index (a shipping freight-cost index) settled at 1503, +43 for the week.

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Corn

March futures at $4.45½, -1½¢ for the week.

Basis (H = March; e.g. 10H means 10¢ over March futures) (Futures price + Basis = Cash price)

• The US national average basis is -24H, 1¢ firmer.

• Dayton, Ohio Cargill’s spot basis is -10H, steady, $4.36 cash price.

• Iowa Falls Poet’s spot basis is 10H, 5¢ firmer, $4.55 cash price.

COT Report (Commitment of Traders)

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