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Weekly Basis 6/18/23

The Dow Jones Industrial Average (DJIA) settled at 34,299.12, +422.34 points for the week.

Crude oil settled at $71.44, +1.09.

The Dollar Index settled at 102.305, -1.25.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,076, +21 points for the week.


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

 

Corn


July futures at $6.40¼, +36¢ for the week.

December futures at $5.97½, +67¢ 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 21N, 3¢ weaker.

Dayton, Ohio Cargill’s spot basis is 30N, 6¢ weaker, $6.70 cash price.

Iowa Falls Poet’s spot basis is 44N, 6¢ weaker, $6.84 cash price.


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