CORN COMMENTS
The national average corn basis firmed 4 1/4 cents to 9 3/4 cents below December futures. The national cash corn index price fell 7 1/2 cents from last Wednesday to $4.42.
National basis is now firmer than the three-year average of 13 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 2 1/2 cents from last week to 15 cents below November futures. The national cash soybean index price dropped 23 1/4 cents to $12.09 3/4.
National basis is weaker than the three-year average of 3 3/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 2 1/2 cents to 57 cents below December futures. The average cash price fell 26 3/4 cents to $5.42 1/4. SRW basis is firmer than the three-year average of 60 3/4 cents below December futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent at 62 1/2 cents below December futures. The average cash price fell 29 1/4 cents to $5.81 3/4. HRW basis is firmer than the three-year average of 65 1/4 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 75.89 cents last week, down 41 points from the previous week. Last year at this time the weekly cotton spot price was 60.14 cents. USDA reported transactions of 15,128 bales last week, up from 11,026 bales reported the week prior and compared to 19,398 from the same period a year prior.
Basis firmed 26 points from last week at 464 basis points under the December contract and is wider than the three-year average of 440 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $227.08 last week, up $2.89 from the previous week. Last year at this time cash cattle averaged $237.89. So far this week, USDA has reported very light cash cattle trade averaging $228.40.
Choice boxed beef fell $3.59 over the past week to $369.00. Last year on this date, choice beef was $379.65.
HOG COMMENTS
The average lean hog carcass price was down $10.38 over the last week and stands at $56.56. Last year on this day the lean hog carcass value was $88.03.
The pork cutout value fell $2.05 over the past week to $72.45, according to this afternoon’s report. Last year at this time the pork cutout value was $100.02.