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Weekly Basis 2/4/24

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

The Dow Jones Industrial Average (DJIA) settled at 38654.42, +544.99 points for the week.

Crude oil settled at $72.41, -5.82.

The Dollar Index settled at 103.96, +0.49.

The Baltic Dry Index (a shipping freight-cost index) settled at 1407, -111 for the week.



March futures at $4.42¾, -3½¢ 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, 2¢ firmer.

  • Dayton, Ohio Cargill’s spot basis is 0H, 5¢ firmer, $4.43 cash price.

  • Iowa Falls Poet’s spot basis is 5H, 2¢ weaker, $4.48 cash price.

COT Report (Commitment of Traders)

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