Weekly Basis 9/24/23

It's our weekly grain market prices and US grain basis analysis and outlook on September 24, 2023 for corn, soybeans and wheat.

The Dow Jones Industrial Average (DJIA) settled at 33963.84, -654.40 points for the week.

Crude oil settled at $90.33, -0.87.

The Dollar Index settled at 105.58, +0.25.

The Baltic Dry Index (a shipping freight-cost index) settled at 1593, +212 points for the week.

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Corn

December futures at $4.77¼, +1¢ 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 -23Z, 7¢ weaker.

• Dayton, Ohio Cargill’s spot basis is 5Z, 45¢ weaker, $4.82 cash price.

• Iowa Falls Poet’s spot basis is 0Z, 5¢ weaker, $4.77 cash price.

COT Report (Commitment of Traders)

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