Midweek Cash Markets | June 21, 2023

Midweek Cash Markets
Midweek Cash Markets
(Pro Farmer)

CORN COMMENTS

The national average corn basis fell 15 cents but remained 8 1/2 cents above July futures. The national average cash corn price firmed 48 1/4 cents to $6.79 1/2.

Basis is slightly weaker than the three-year average of 11 3/4 cents above futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 58 1/2 cents to 77 1/2 cents above August futures. The national average cash price surged $1.15 1/4 to $15.22 1/2.

Basis is much better than the three-year average of 5 1/2 cents above futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis slipped 3/4 cent to 27 3/4 cents under July futures. The average cash price surged $1.03 1/2 to $7.06 3/4. SRW basis is weaker than the three-year average of 19 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis fell 5 3/4 cents to 47 1/2 cents below July futures. The average cash price jumped 83 3/4 cents to $8.28 1/4. HRW basis is much weaker than the three-year average of 29 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $184.92 last week, down $3.83 from the previous week. Cash cattle started trading at $2 lower prices this week. Last year, the cash price was $144.55.

Choice boxed beef fell $4.81 over the past week to $334.25. Last year at this time, Choice boxed beef prices were $266.57.

 

HOG COMMENTS

The average lean hog carcass price firmed $2.60 over the past week to $85.98. Last year’s lean carcass price on this date was $110.17.

The pork cutout value firmed $6.40 over the past week to $96.08. Last year at this time, the cutout price stood at $111.15.

 

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