Weekly Basis 3/12/23
The Dow Jones Industrial Average (DJIA) settled at 31,909.64, -1,481.33 points for the week.
Crude oil settled at $76.68, -3.17.
The Dollar Index settled at 104.64, +0.11.
The Baltic Dry Index (a shipping freight-cost index) settled at 1,424, +213 for the week.
Below is corn, soybeans and wheat basis outlook this week.
May futures at $6.17¼, -23½¢ for the week.
December futures at $5.57¾, -13¼¢ for the week.
Basis (K = May; e.g. 10K means 10¢ over May futures) (Futures price + Basis = Cash price)
The US national average basis is 5K, 2¢ firmer.
Want to read more?
Subscribe to www.wrightonthemarket.com to keep reading this exclusive post.