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Weekly Basis 4/23/23

The Dow Jones Industrial Average (DJIA) settled at 33,808.96, -77.51 points for the week.

Crude oil settled at $77.95, -4.73.

The Dollar Index settled at 101.72, 0.14.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,504, +69 for the week.


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

 

Corn


July futures at $6.15¼, -20½¢ for the week.

December futures at $5.48, -12¢ for the week.


Basis (K = May, N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis = Cash price)

The US national average basis is -1K, 12¢ weaker.

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