Weekly Basis 12/24/23

It's our weekly grain market prices and US grain basis analysis and outlook on December 24, 2023 for corn, soybeans and wheat.

The Dow Jones Industrial Average (DJIA) settled at 37385.97, +80.81 points for the week.

Crude oil settled at $73.49, +1.70.

The Dollar Index settled at 101.71, -0.88.

The Baltic Dry Index (a shipping freight-cost index) settled at 2094, -254 points for the week.

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Corn

March futures at $4.73, -10¢ 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 -31H, 1¢ firmer.

• Dayton, Ohio Cargill’s spot basis is -20H, 10¢ firmer, $4.53 cash.

• Iowa Falls Poet’s spot basis is 5H, steady, $4.78 cash price.

COT Report (Commitment of Traders)

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