Weekly Basis 12/3/23
- Wright team
- Dec 3, 2023
- 3 min read
It's our weekly grain market prices and US grain basis analysis and outlook on December 3, 2023 for corn, soybeans and wheat.
The Dow Jones Industrial Average (DJIA) settled at 36245.5, +855.35 points for the week.
Crude oil settled at $74.38, -0.80.
The Dollar Index settled at 103.19, -0.23.
The Baltic Dry Index (a shipping freight-cost index) settled at 3192, +1,090 points for the week.
Corn
December futures at $4.84¾, +2¼¢ 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 -40H, 5¢ firmer.
Dayton, Ohio Cargill’s spot basis is -40H, 30¢ firmer, $4.45 cash price.
Iowa Falls Poet’s spot basis is 5H, steady, $4.89 cash price.
COT Report (Commitment of Traders)
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