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Weekly Basis 11/26/23

It's our weekly grain market prices and US grain basis analysis and outlook on November 26, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 35390.15, +442.87 points for the week.

Crude oil settled at $75.18, -0.66.

The Dollar Index settled at 103.42, -0.39.

The Baltic Dry Index (a shipping freight-cost index) settled at 2102, +282 points for the week.

 

Corn


December futures at $4.63¼, -3¾¢ 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 -24Z, 1¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -50Z, steady, $4.13 cash price.

  • Iowa Falls Poet’s spot basis is 18Z, steady, $4.81 cash price.

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