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Weekly Basis 6/4/23

The Dow Jones Industrial Average (DJIA) settled at 33,762.76, +669.42 points for the week.

Crude oil settled at $71.87, -1.00.

The Dollar Index settled at 104.04, -0.19.

The Baltic Dry Index (a shipping freight-cost index) settled at 937, -235 points for the week.


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

 

Corn


July futures at $6.09, +5¢ for the week.

December futures at $5.41¼, +6¾¢ 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 35N, 1¢ firmer.

Dayton, Ohio Cargill’s spot basis is 45N, 7¢ firmer, $6.54 cash price.

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