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Weekly Basis 10/22/23

It's our weekly grain market prices and US grain basis analysis and outlook on October 22, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 33127.28, -543.01 points for the week.

Crude oil settled at $89.02, +1.30.

The Dollar Index settled at 106.16, -0.51.

The Baltic Dry Index (a shipping freight-cost index) settled at 2046, +101 points for the week.

 

Corn


December futures at $4.95½, +2¼¢ 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, steady.

  • Dayton, Ohio Cargill’s spot basis is -30Z, 15¢ weaker, $4.66 cash price.

  • Iowa Falls Poet’s spot basis is -5Z, 10¢ firmer, $4.9 cash price.


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