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Weekly Basis 9/3/23

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.



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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