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Weekly Basis 2/11/24

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 38,672, +17.27 points for the week.

Crude oil settled at $76.6, +4.19.

The Dollar Index settled at 104.08, +0.12.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,545, +138 for the week.

 

Corn


March futures at $4.29, -13¾¢ 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 -21H, steady.

  • Dayton, Ohio Cargill’s spot basis is -5H, 5¢ weaker, $4.24 cash price.

  • Iowa Falls Poet’s spot basis is 8H, 3¢ firmer, $4.37 cash price.


COT Report (Commitment of Traders)

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