Weekly Basis 9/10/23
- Wright Team
- Sep 10, 2023
- 3 min read
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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