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Weekly Basis 7/9/23

The Dow Jones Industrial Average (DJIA) settled at 33,734.88, -672.72 points for the week.

Crude oil settled at $73.67, +3.22.

The Dollar Index settled at 102.27, -0.65.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,009, -82 points for the week.


Below is corn, soybeans and wheat basis outlook this week.

 

Corn


September futures at $4.87¼, -1¼¢ for the week.

December futures at $4.94½, -½¢ for the week.


Basis (U = September; e.g. 10U means 10¢ over September futures) (Futures price + Basis = Cash price)

The US national average basis is 41U, 1¢ weaker.

Dayton, Ohio Cargill’s spot basis is 80U, no bids last week, $5.67 cash price.

Iowa Falls Poet’s spot basis is 80U, 10¢ firmer, $5.67 cash price.


COT Report (Commitment of Traders)

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