Weekly Basis 9/17/23

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.

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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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