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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.

 

Corn


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.

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