Weekly Basis 12/18/22

The Dow Jones Industrial Average (DJIA) settled at 32,920.46, down 556 points for the week.

Crude oil settled at $74.50, up $2.91 for the week.

The Dollar Index settled at 104.84, down 0.09 for the week.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,560, up 174 for the week.

Below is corn, soybeans and wheat basis outlook this week.

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Corn

March futures at $6.53 up $0.09 for the week.

Basis

(H = March; e.g. 10H means 10 over March) (Futures price + Basis = Cash price)

US national average basis is 14H, 1 cent firmer.

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