It's our weekly grain market prices and US grain basis analysis and outlook on November 5, 2023 for corn, soybeans and wheat.
The Dow Jones Industrial Average (DJIA) settled at 34061.32, +1,643.73 points for the week.
Crude oil settled at $80.89, -4.27.
The Dollar Index settled at 105.07, -1.51.
The Baltic Dry Index (a shipping freight-cost index) settled at 1462, -101 points for the week.
Corn
December futures at $4.77¼, -3½¢ 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 -25Z, 1¢ firmer.
Dayton, Ohio Cargill’s spot basis is -25Z, 5¢ firmer, $4.52 cash price.
Iowa Falls Poet’s spot basis is 7Z, 7¢ firmer, $4.84 cash price.