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Weekly Basis 5/13/22

The Dow Jones Industrial Average settled at 32,196.66, down 702.71 points for the week.


Crude oil settled at $110.43, down $0.19 for the week.

The dollar index settled at 104.56, up 0.90 for the week.


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


 

Corn


July corn settled at $7.81¼, down 3½ cents for the week and December corn was up 28 cents to settle at $7.48¾ after making a new contract high Thursday evening at $7.58½.


Dayton, Ohio Cargill is paying $7.86 for corn, 5 over July futures, which is a 5 cent firmer basis than a week ago. Their fall delivery basis is steady at 30 under the December futures.


Poet at Iowa Falls is paying $7.91 for corn, 10 over the July futures, which is a 5 cent firmer basis than a week ago. Their fall 2022 delivery basis is steady at 30 under the December futures.


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