Midweek Cash Markets | March 6, 2024

Midweek Cash Markets
Midweek Cash Markets
(Pro Farmer)

CORN COMMENTS

The national average corn basis dropped 7 1/4 cents to 6 3/4 cents below May futures. The national average cash corn price firmed 8 1/4 cents to $4.22.

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

 

SOYBEAN COMMENTS

The national average soybean basis dropped 3 1/4 cents to a penny under May futures. The national average cash price firmed 11 cents to $11.47 1/4.

Basis is weaker than the three-year average of 5 3/4 cents above futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 1/2 cent to 47 1/4 cents under May futures. The average cash price dropped 40 1/2 cents to $4.83 3/4. SRW basis is better than the three-year average of 75 1/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 7 1/2 cents to 52 3/4 cents below May futures. The average cash price dropped 31 3/4 cents to $5.03 1/2. HRW basis is better than the three-year average of 56 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $183.30 last week, up 35 cents from the previous week. This week’s cash cattle trade has been slow to develop, with cash sources expecting steady/firmer prices. Last year, the cash price was $165.40.

Choice boxed beef firmed $1.88 over the past week to $304.91. Last year at this time, Choice boxed beef prices were $284.78.

 

HOG COMMENTS

The average lean hog carcass price firmed $1.19 over the past week to $79.21. Last year’s lean carcass price on this date was $78.12.

The pork cutout value firmed $1.15 over the past week to $91.49. Last year at this time, the cutout price stood at $87.66.

 

 

Latest News

Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales exceed expectations, while soybeans miss

Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.

First Thing Today | March 28, 2024
First Thing Today | March 28, 2024

Corn, soybeans and wheat traded in narrow ranges during the overnight session ahead of USDA’s reports later this morning.

After the Bell | March 27, 2024
After the Bell | March 27, 2024

After the Bell | March 27, 2024

Pro Farmer's Daily Advice Monitor
Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

Market Watch | March 27, 2024
Market Watch | March 27, 2024

Cash cattle prices soar to all-time high.

Baltimore Bridge Collapse: Limited Impact on Trade Basis Channel Reopening Timeline
Baltimore Bridge Collapse: Limited Impact on Trade Basis Channel Reopening Timeline

RFK Jr. VP | Dairy cattle bird flu update | John Deere layoffs | Dollar/yen exchange rate 34-year high