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Weekly Basis 11/5/23

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.

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