Weekly Basis 8/20/23
- Wright Team
- Aug 20, 2023
- 3 min read
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.
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