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Weekly Basis 9/10/23

It's our weekly grain market prices and US grain basis analysis and outlook on September 10, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 34,576.59, -261.12 points for the week.

Crude oil settled at $87.23, +1.18.

The Dollar Index settled at 105.09, +0.83.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,186, +121 points for the week.

 

Corn


December futures at $4.83¾, +2¼¢ for the week.


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

  • The US national average basis is -10Z, 17¢ weaker (moved to Dec).

  • Dayton, Ohio Cargill’s spot basis is 105Z, 10¢ firmer, $5.89 cash price.

  • Iowa Falls Poet’s spot basis is 15Z, 15¢ weaker, $4.98 cash price.


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