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Weekly Basis 5/7/23

The Dow Jones Industrial Average (DJIA) settled at 33,674.38, -423.78 points for the week.

Crude oil settled at $71.32, -5.31.

The Dollar Index settled at 101.28, -0.39.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,558, -18 for the week.


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

 

Corn


July futures at $5.96½, +11½¢ for the week.

December futures at $5.34¾, +7¢ for the week.


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

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