Midweek Cash Markets | September 7, 2022

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CORN COMMENTS

The national average corn basis dropped another 16 3/4 cents but remained 38 3/4 cents above September futures. The national average cash corn price dropped 19 1/2 cents to $7.09 3/4.

Basis is much better than the three-year average of 8 3/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 34 1/2 cents but remained 98 3/4 cents above November futures. The national average cash price dropped 73 1/2 cents to $14.82 1/4.

Basis is much better than the three-year average of 14 1/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 5 1/2 cent to 48 cents under September futures. The average cash price firmed 29 3/4 cents to $7.96 1/4. SRW basis is much weaker than the three-year average of 18 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 8 3/4 cents to 41 3/4 cents below September futures. The average cash price dropped 14 1/2 cents to $8.59 3/4. HRW basis is much weaker than the three-year average of 33 1/2 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $142.88 last week, down $1.91 from the previous week. This week’s cash trade has been slow to establish, though prices are expected to be steady to possibly firmer. Last year, the cash price was $124.79.

Choice boxed beef firmed $3.00 over the past week to $261.34. Last year, Choice boxed beef prices were $334.86.

HOG COMMENTS

The average lean hog carcass price dropped another $5.24 over the past week to $99.78. Last year’s lean carcass price on this date was $91.29.

The pork cutout value slipped 4 cents over the past week to $103.15. Last year at this time, the cutout price stood at $110.40.