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Weekly Basis 4/30/23

The Dow Jones Industrial Average (DJIA) settled at 34,098.16, +289.20 points for the week.

Crude oil settled at $76.63, -1.32.

The Dollar Index settled at 101.67, -0.05.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,576, +72 for the week.

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



July futures at $6.85, -30¼¢ for the week.

December futures at $5.27¾, -20¼¢ for the week.

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

The US national average basis is 36N, 2¢ weaker.

Dayton, Ohio Cargill has no spot bids for near months delivery.

Iowa Falls Poet’s spot basis is 55N, steady, $6.40 cash price.

COT Report (Commitment of Traders)

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