It's our weekly grain market prices and US grain basis analysis and outlook on August 20, 2023 for corn, soybeans and wheat.
The Dow Jones Industrial Average (DJIA) settled at 34,500.66, -780.74 points for the week.
Crude oil settled at $81.40, -1.64.
The Dollar Index settled at 103.43, +0.58.
The Baltic Dry Index (a shipping freight-cost index) settled at 1,237, +108 points for the week.
Corn
September futures at $4.79½, +5¢ for the week.
December futures at $4.93, +5¾¢ 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 36U, 3¢ weaker.
Dayton, Ohio Cargill’s spot basis is 105U, 5¢ firmer, $5.85 cash price.
Iowa Falls Poet’s spot basis is 90U, steady, $5.69 cash price.