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Weekly Basis 4/2/23

The Dow Jones Industrial Average (DJIA) settled at 33,275.15, +1037.62 points for the week.

Crude oil settled at $75.70, +6.50.

The Dollar Index settled at 102.59, -0.52.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,389, -95 for the week.



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

 

Corn


May futures at $6.60½, +17½¢ for the week.

December futures at $5.66½, +6¼¢ 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 10K, steady.

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