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)