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Weekly Basis 9/17/23

Updated: Oct 1, 2023

It's our weekly grain market prices and US grain basis analysis and outlook on September 17, 2023 for corn, soybeans and wheat.


The Dow Jones Industrial Average (DJIA) settled at 34,618.24, +41.65 points for the week.

Crude oil settled at $91.20, +3.97.

The Dollar Index settled at 105.33, +0.24.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,381, +195 points for the week.


Corn


December futures at $4.76¼, -7½¢ 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 -16Z, 6¢ weaker.

  • Dayton, Ohio Cargill’s spot basis is 50Z, 55¢ weaker, $5.26 cash price.

  • Iowa Falls Poet’s spot basis is 5Z, 10¢ weaker, $4.81 cash price.


COT Report (Commitment of Traders)

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