Weekly Basis 12/31/23
- Wright team
- Dec 31, 2023
- 3 min read
It's our weekly grain market prices and US grain basis analysis and outlook on December 31, 2023 for corn, soybeans and wheat.
The Dow Jones Industrial Average (DJIA) settled at 37689.54, +303.57 points for the week.
Crude oil settled at $71.33, -2.16.
The Dollar Index settled at 101.38, -0.33.
The Baltic Dry Index (a shipping freight-cost index) settled at 2094, steady for the week.
Corn
March futures at $4.71¼, -1¾¢ 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 -29H, 2¢ firmer.
Dayton, Ohio Cargill’s spot basis is -15H, 5¢ firmer, $4.56 cash price.
Iowa Falls Poet’s spot basis is 5H, steady, $4.76 cash price.
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