Weekly Basis 12/31/23

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.

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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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