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Weekly Basis 10/15/23

It's our weekly grain market prices and US grain basis analysis and outlook on October 15, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 33670.29, +262.71 points for the week.

Crude oil settled at $87.72, +4.91.

The Dollar Index settled at 106.67, +0.57.

The Baltic Dry Index (a shipping freight-cost index) settled at 1945, +16 points for the week.

 

Corn


December futures at $4.93¼, +1¼¢ for the week.


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

  • The US national average basis is -27Z, 1¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -15Z, 25¢ weaker, $4.78 cash price.

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