Weekly Basis 7/2/23
- Wright Team
- Jul 2, 2023
- 3 min read
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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