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Weekly Basis 1/7/24

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

The Dow Jones Industrial Average (DJIA) settled at 37466.11, -223.43 points for the week.

Crude oil settled at $73.95, +2.62.

The Dollar Index settled at 102.43, +1.05.

The Baltic Dry Index (a shipping freight-cost index) settled at 2110, +16 for the week.



March futures at $4.60¾, -10½¢ 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 -27H, 2¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -15H, steady, $4.46 cash price.

  • Iowa Falls Poet’s spot basis is 5H, steady, $4.66 cash price.

COT Report (Commitment of Traders)

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