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Weekly Basis 8/6/23

The Dow Jones Industrial Average (DJIA) settled at 35,065.62, -393.67 points for the week.

Crude oil settled at $82.64, +1.97.

The Dollar Index settled at 102.01, +0.31.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,136, +26 points for the week.


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

 

Corn


September futures at $4.84¼, -36¾¢ for the week.

December futures at $4.97¼, -33¢ 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, 1¢ weaker.

Dayton, Ohio Cargill’s spot basis is 95U, steady, $5.79 cash price.

Iowa Falls Poet’s spot basis is 85U, 7¢ weaker, $5.69 cash price.


COT Report (Commitment of Traders)

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