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Weekly Basis 4/16/23

The Dow Jones Industrial Average (DJIA) settled at 33,886.47, +401.18 points for the week.

Crude oil settled at $82.68, +2.22.

The Dollar Index settled at 101.58, -0.51.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,435, -125 for the week.


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

 

Corn


May futures at $6.66¼, +22¾¢ for the week.

December futures at $5.60, +3¼¢ 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 11K, 1¢ weaker.

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