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CORN COMMENTS
The national average corn basis firmed 3 cents over the past week to 11 1/2 cents above May futures. The national average cash corn price firmed 1 1/4 cents to $5.49.
Basis is much better than the three-year average, which is 5 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 6 1/4 cents over the past week to 19 1/2 cents above May futures. The national average cash price firmed 48 1/4 cents on the week to $14.28 1/4.
Basis is much better than the three-year average of 21 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 15 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price firmed 14 1/2 cents to $6.01 1/4. SRW basis is weaker than the three-year average of 7 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/2 cent over the past week to 27 3/4 cents below May futures. The average cash price firmed 5 1/4 cents to $5.35 1/2. HRW basis is slightly better than the three-year average of 30 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $118.08 last week, up $2.89 from the previous week. This week’s cash cattle trade started in the $120 area in the Southern Plains but has firmed from there. Last year, the cash price was $111.08.
Choice boxed beef prices surged another $21.48 over the past week to $266.31. Aside from the Covid-induced surge in prices last year, that’s the highest ever, eclipsing the May 2015 peak. Last year, Choice boxed beef prices were $235.17.
HOG COMMENTS
The average lean hog carcass price firmed another $2.43 over the past week to $100.47. Last years lean carcass price on this date was $64.46.
The pork cutout value firmed $4.04 over the past week to $109.34. Last year at this time, the cutout price stood at $53.70.
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CORN COMMENTS
The national average corn basis firmed 1 1/4 cents over the past week to 8 1/2 cents above May futures. The national average cash corn price dropped 12 3/4 cents to $5.47 3/4.
Basis is much better than the three-year average, which is 6 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis held at 13 1/4 cents above May futures. The national average cash price dropped 66 cents on the week to $13.80.
Basis is much better than the three-year average of 23 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 15 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped 23 cents to $5.86 3/4. SRW basis is weaker than the three-year average of 3 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent over the past week to 28 1/4 cents below May futures. The average cash price dropped 17 cents to $5.30 1/4. HRW basis is slightly better than the three-year average of 30 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $115.19 last week, up $1.36 from the previous week. Cash cattle trade is expected to be higher again this week, with initial asking prices at $118 and above. Last year, the cash price was $119.31.
Choice boxed beef prices firmed $9.99 over the past week to $244.83. Last year, Choice boxed beef prices were $255.30.
HOG COMMENTS
The average lean hog carcass price firmed another $4.19 over the past week to $98.04. Last years lean carcass price on this date was $65.12.
The pork cutout value dropped $4.00 over the past week to $105.30. Last year at this time, the cutout price stood at $61.18.
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CORN COMMENTS
The national average corn basis firmed 1 1/4 cents over the past week to 7 1/4 cents above May futures. The national average cash corn price dropped 3 1/2 cents to $5.60 1/2.
Basis is better than the three-year average, which is 5 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis slipped a penny over the past week but remains 13 1/4 cents above May futures. The national average cash price firmed 13 1/2 cents on the week to $14.46.
Basis is much better than the three-year average of 22 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 15 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped 15 1/4 cents to $6.09 3/4. SRW basis is weaker than the three-year average of 2 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched 1/4 cent higher to 29 cents below May futures. The average cash price dropped 24 1/2 cents over the past week to $5.47 1/4. HRW basis is slightly better than the three-year average of 30 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $114.23 last week, up 61 cents from the previous week. Cash cattle trade started around $115 in the Southern Plains this week. Last year, the cash price was $109.89.
Choice boxed beef prices firmed $6.37 over the past week to $234.84. Last year, Choice boxed beef prices were $247.24.
HOG COMMENTS
The average lean hog carcass price firmed another $3.29 over the past week to $93.85. Last years lean carcass price on this date was $60.58.
The pork cutout value surged $9.52 over the past week to $109.30. Last year at this time, the cutout price stood at $78.46.
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CORN COMMENTS
The national average corn basis slipped 1/4 cent over the past week to 6 cents above May futures. The national average cash corn price firmed 23 3/4 cents to $5.64.
Basis is better than the three-year average, which is 4 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 3/4 cents over the past week to 14 1/4 cents above May futures. The national average cash price firmed 12 1/4 cents on the week to $14.32 1/2.
Basis is much better than the three-year average of 23 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 15 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped 12 1/2 cents to $6.25. SRW basis is weaker than the three-year average of 2 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis inched 1/4 cent higher to 29 1/4 cents below May futures. The average cash price dropped 15 1/4 cents over the past week to $5.71 3/4. HRW basis is slightly better than the three-year average of 31 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $113.62 last week, down 2 cents from the previous week. Cash cattle trade started around $114 in the Southern Plains, signaling the cash price will be about steady for a sixth consecutive week. Last year, the cash price was $108.84.
Choice boxed beef prices firmed $1.18 over the past week to $228.47. Last year, Choice boxed beef prices were $207.17.
HOG COMMENTS
The average lean hog carcass price firmed another $3.80 over the past week to $90.56. Last years lean carcass price on this date was $57.75.
The pork cutout value firmed $3.89 over the past week to $99.78. Last year at this time, the cutout price stood at $73.88.
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CORN COMMENTS
The national average corn basis firmed 1/4 cent over the past week to 6 1/4 cents above May futures. The national average cash corn price slipped a penny to $5.40 1/4.
Basis is better than the three-year average, which is 2 3/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 1/4 cent over the past week to 10 1/2 cents above May futures. The national average cash price firmed 2 cents on the week to $14.20 1/4.
Basis is much better than the three-year average of 24 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 6 1/2 cents over the past week to 15 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price firmed 3 cents to $6.37 1/2. SRW basis is weaker than the three-year average of 3 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis inched 1/4 cent higher to 29 1/2 cents below May futures. The average cash price dropped 9 1/4 cents over the past week to $5.87. HRW basis is better than the three-year average of 34 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $113.64 last week, down 43 cents from the previous week. This week’s cash cattle trade started in the $113 to $114 range. Last year, the cash price was $113.17.
Choice boxed beef prices dropped $5.74 over the past week to $227.29. Last year, Choice boxed beef prices were $206.82.
HOG COMMENTS
The average lean hog carcass price firmed another $3.49 over the past week to $86.76. Last years lean carcass price on this date was $56.46.
The pork cutout value firmed $5.87 over the past week to $95.89. Last year at this time, the cutout price stood at $68.82.
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CORN COMMENTS
The national average corn basis firmed 3 1/2 cents over the past week to 6 cents above May futures. The national average cash corn price dropped 20 1/2 cents to $5.41 1/4.
Basis is better than the three-year average, which is 2 3/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 3/4 cents over the past week to 10 3/4 cents above May futures. The national average cash price dropped 12 1/2 cents on the week to $14.18 1/4.
Basis is much better than the three-year average of 20 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 8 1/4 cents on the contract rollover to stand 21 1/2 cents below May futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped 32 1/2 cents to $6.34 1/2. SRW basis is much weaker than the three-year average of 2 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 2 1/2 cents to 29 3/4 cents below May futures. The average cash price dropped 31 1/2 cents over the past week to $5.96 1/4. HRW basis is better than the three-year average of 37 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $114.07 last week, the exact same price as the previous week. This week’s cash cattle trade started around $114 in the Southern Plains. Last year, the cash price was $114.85.
Choice boxed beef prices dropped $7.72 over the past week to $233.03. Last year, Choice boxed beef prices were $206.34.
HOG COMMENTS
The average lean hog carcass price firmed another $4.14 over the past week to $83.27. Last years lean carcass price on this date was $56.16.
The pork cutout value slipped 65 cents over the past week to $90.02. Last year at this time, the cutout price stood at $64.68.
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CORN COMMENTS
The national average corn basis slipped 3/4 cent over the past week but remains 2 1/2 cents above March futures. The national average cash corn price firmed 5 1/2 cents to $5.61 3/4.
Basis is slightly better than the three-year average, which is 1 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 5 1/2 cents over the past week to 7 cents above March futures. The national average cash price rose 45 1/2 cents on the week to $14.30 3/4.
Basis is much better than the three-year average of 18 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 13 1/4 cents under March futures. Many locations are no longer giving a bid for spot delivery. The average cash price firmed 36 1/4 cents to $6.67. SRW basis is weaker than the three-year average of 2 1/4 cents above futures.
The national average hard red winter (HRW) wheat basis firmed a penny to 28 1/4 cents below March futures again this week. The average cash price firmed 32 1/2 cents over the past week to $6.27 3/4. HRW basis is slightly better than the three-year average of 32 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $114.07 last week, up 24 cents from the previous week. This week’s cash trade started around $114.00. Last year, the cash price was $119.71.
Choice boxed beef prices firmed $3.24 over the past week to $240.75. Last year, Choice boxed beef prices were $205.57.
HOG COMMENTS
The average lean hog carcass price firmed another $2.60 over the past week to $79.13. Last years lean carcass price on this date was $55.54.
The pork cutout value firmed $2.88 over the past week to $90.67. Last year at this time, the cutout price stood at $63.36.
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CORN COMMENTS
The national average corn basis firmed 3/4 cent over the past week to 3 1/4 cents above March futures. The national average cash corn price firmed 19 1/4 cents to $5.56 1/4.
Basis is slightly better than the three-year average, which is even with futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 1/4 cents over the past week to 1 1/2 cents above March futures. The national average cash price rose 31 cents on the week to $13.85 1/4.
Basis is much better than the three-year average of 17 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1/4 cent to 13 1/4 cents under March futures. Many locations are no longer giving a bid for spot delivery. The average cash price firmed 8 3/4 cents to $6.30 3/4. SRW basis is weaker than the three-year average of 1 3/4 cents above futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 29 1/4 cents below March futures again this week. The average cash price firmed 11 1/4 cents over the past week to $5.95 1/4. HRW basis is slightly better than the three-year average of 33 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $113.83 last week, up 20 cents from the previous week. This week’s cash trade will be significantly impacted by the harsh winter weather, though there was light initial trade reported at $114 in the Southern Plains. Last year, the cash price was $118.90.
Choice boxed beef prices firmed $4.49 over the past week to $237.51. Last year, Choice boxed beef prices were $206.31.
HOG COMMENTS
The average lean hog carcass price firmed $4.79 over the past week to $76.53. Last years lean carcass price on this date was $57.32.
The pork cutout value firmed $2.60 over the past week to $87.79. Last year at this time, the cutout price stood at $62.93.
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CORN COMMENTS
The national average corn basis firmed 1/4 cent over the past week to 2 1/2 cents above March futures. The national average cash corn price dropped 17 1/4 cents to $5.37.
Basis is slightly better than the three-year average, which is even with futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 1/4 cent over the past week to 1/4 cent above March futures. The national average cash price dropped 17 1/2 cents on the week to $13.54 1/4.
Basis is much better than the three-year average of 20 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 13 1/2 cents under March futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped 12 3/4 cents to $6.22. SRW basis is weaker than the three-year average of 2 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 30 cents below March futures again this week. The average cash price dropped 11 1/4 cents over the past week to $5.84. HRW basis is slightly better than the three-year average of 34 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $113.63 last week, up $1.19 from the previous week. Cash cattle trade this week started around $114 in the Southern Plains. Last year, the cash price was $121.05.
Choice boxed beef prices dropped $2.26 over the past week to $233.02. Last year, Choice boxed beef prices were $210.72.
HOG COMMENTS
The average lean hog carcass price firmed $2.57 over the past week to $71.74. Last years lean carcass price on this date was $60.98.
The pork cutout value firmed $6.43 over the past week to $85.19. Last year at this time, the cutout price stood at $64.15.
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CORN COMMENTS
The national average corn basis firmed 2 1/4 cents over the past week to 2 1/4 cents above March futures. The national average cash corn price firmed 20 1/4 cents to $5.54 1/4.
Basis is better than the three-year average, which is 2 1/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 4 1/2 cents over the past week to 1/2 cent above March futures. The national average cash price firmed a penny on the week to $13.71 3/4.
Basis is much better than the three-year average of 22 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 13 1/2 cents under March futures. Many locations are no longer giving a bid for spot delivery. The average cash price dropped a dime to $6.34 3/4. SRW basis is weaker than the three-year average of even with futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 30 1/4 cents below March futures again this week. The average cash price dropped 11 cents over the past week to $5.95 1/4. HRW basis is better than the three-year average of 35 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $112.44 last week, up $3.21 from the previous week. Cash cattle are expected to trade higher again this week, though gains won’t likely be as strong. Last year, the cash price was $122.87.
Choice boxed beef prices firmed another $5.62 over the past week to $235.28. Last year, Choice boxed beef prices were $213.52.
HOG COMMENTS
The average lean hog carcass price firmed $2.21 over the past week to $69.17. Last years lean carcass price on this date was $62.40.
The pork cutout value dropped 86 cents over the past week to $78.76. Last year at this time, the cutout price stood at $70.38.
