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Weekly Basis 7/2/23

The Dow Jones Industrial Average (DJIA) settled at 34,407.60, +680.17 points for the week.

Crude oil settled at $70.45, +0.95.

The Dollar Index settled at 102.92, +0.05.

The Baltic Dry Index (a shipping freight-cost index) settled at 1,091, -149 points for the week.


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

 

Corn


September futures at $4.88½, -96¼¢ for the week.

December futures at $4.94¾, -93¼¢ for the week.


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

The US national average basis is 42U, 5¢ weaker.

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