Weekly Basis 9/3/23
- Wright Team
- Sep 3, 2023
- 3 min read
It's our weekly grain market prices and US grain basis analysis and outlook on September 3, 2023 for corn, soybeans and wheat.
The Dow Jones Industrial Average (DJIA) settled at 34,837.71, +490.81 points for the week.
Crude oil settled at $86.05, +6.00.
The Dollar Index settled at 104.24, +0.05.
The Baltic Dry Index (a shipping freight-cost index) settled at 1,065, -15 points for the week.
Corn
December futures at $4.81½, -6½¢ for the week.
September futures at $4.84¾, -6¢ for the week.
Basis (Z =Dec, U = Sept.; e.g. 10U means 10¢ over Sept futures) (Futures price + Basis = Cash price)
The US national average basis is 24U, 7¢ weaker.
Dayton, Ohio Cargill’s spot basis is 95Z, 17¢ weaker, $5.77 cash price.
Iowa Falls Poet’s spot basis is 30Z, 28¢ weaker, $5.11 cash price.
COT Report (Commitment of Traders)
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