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Weekly Basis 8/13/23

It's our weekly grain market prices and US grain basis analysis and outlook on August 13, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 35,281.40, +215.78 points for the week.

Crude oil settled at $83.04, +0.40.

The Dollar Index settled at 102.85, +0.84.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,129, -7 points for the week.

 

Corn


September futures at $4.74½, -9¾¢ for the week.

December futures at $4.87¼, -10¢ for the week.


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

The US national average basis is 39U, steady.

Dayton, Ohio Cargill’s spot basis is 100U, 5¢ firmer, $5.75 cash price.

Iowa Falls Poet’s spot basis is 90U, 5¢ firmer, $5.64 cash price.


COT Report (Commitment of Traders)

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