Weekly Basis 12/4/22

The Dow Jones Industrial Average (DJIA) settled at 34,429.88, up 82.85 points for the week.

Crude oil settled at $80.34, up $3.79 for the week.

The Dollar Index settled at 104.51, down 1.55 for the week.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,324, steady for the week.

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

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Corn

March futures at $6.46¼ down $0.25 for the week.

Basis

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

US national average basis is 11H, 3 cents weaker.

Dayton, Ohio Cargill’s Spot basis is 7H, 7 cents firmer, $6.53 cash price;

Iowa Falls Poet’s Spot basis is 17H, 3 cents weaker, $6.63 cash price.

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