Weekly Basis 5/21/22

The Dow Jones Industrial Average settled at 31,261, down 934.76 points for the week.

Crude oil settled at $112.70, up $2.27 for the week.

The dollar index settled at 103.06, down 1.50 for the week.

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

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Corn

July corn settled at $7.78¾, down 2½ cents for the week and December corn was down 16¾ cents to settle at $7.32.

Dayton, Ohio Cargill is paying $7.84 for corn, 5 over July futures, which is a steady basis with a week ago. Their fall delivery basis is steady at 30 under the December futures.

Poet at Iowa Falls is paying $8.01 for corn, 22 over the July futures, which is a 12 cent firmer basis than a week ago. Their fall 2022 delivery basis is steady at 30 under the December futures.

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