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Weekly Basis 5/21/23

The Dow Jones Industrial Average (DJIA) settled at 33,426.63, +126.01 points for the week.

Crude oil settled at $71.67, +1.58.

The Dollar Index settled at 103.19, +0.49.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,384, -174 points for the week.


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

 

Corn


July futures at $5.54½, -31¾¢ for the week.

December futures at $4.99¾, -9¢ 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 34N, 2¢ weaker.

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