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Weekly Basis 5/14/23

The Dow Jones Industrial Average (DJIA) settled at 33,300.62, -373.76 points for the week.

Crude oil settled at $70.09, -1.23.

The Dollar Index settled at 102.70, +1.42.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,558, steady for the week.

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



July futures at $5.86¼, -10¼¢ for the week.

December futures at $5.08¾, -26¢ 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, steady.

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