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Weekly Basis 12/17/23

It's our weekly grain market prices and US grain basis analysis and outlook on December 17, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 37305.16, +1,057.29 points for the week.

Crude oil settled at $71.79, +0.53.

The Dollar Index settled at 102.59, -1.39.

The Baltic Dry Index (a shipping freight-cost index) settled at 2348, -135 points for the week.

 

Corn


March futures at $4.83, -2½¢ for the week.


Basis (H = March; e.g. 10H means 10¢ over March futures) (Futures price + Basis = Cash price)

  • The US national average basis is -32H, 3¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is -30H, 5¢ firmer, $4.53 cash price.

  • Iowa Falls Poet’s spot basis is 5H, 5¢ firmer, $4.88 cash price.


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