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Weekly Basis 10/29/23

It's our weekly grain market prices and US grain basis analysis and outlook on October 29, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 32417.59, -709.69 points for the week.

Crude oil settled at $85.16, -3.86.

The Dollar Index settled at 106.58, +0.42.

The Baltic Dry Index (a shipping freight-cost index) settled at 1563, -483 points for the week.

 

Corn


December futures at $4.80¾, -14¾¢ 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 -26Z, 1¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -30Z, steady, $4.51 cash price.

  • Iowa Falls Poet’s spot basis is 0Z, 5¢ firmer, $4.8 cash price.


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