Basically, there are two ways to answer your question, but I intend to use three.
There are basically only two chickens in the farm.
The first is correct when you're making a two-part sentence, when you wish to say that originally (basically) there was something, but it is now incorrect etc. The second is when you truly mean the word basically, and wish to say that something is basic and elementary.
The first is more correct, while the second is a bit more slang-ish, though both usages aren't entirely proper, originally.
Good day :-)