Midweek Cash Markets -- June 30, 2020

Posted on Tue, 06/30/2020 - 17:09

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CORN COMMENTS

The national average corn basis dropped 1 1/2 cents over the past week but is still 4 1/4 cents above September futures. The national average cash corn price firmed 15 3/4 cents to $3.45 3/4.

Basis is better than the three-year average, which is 7 1/2 cents below futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 3 cents over the past week to 5 3/4 cents above August futures. The national average cash price firmed 11 1/4 cents on the week to $8.84 1/2.

Basis is much better than the three-year average of 19 3/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 2 1/2 cents over the past week to 3/4 cent below September futures. The average cash price firmed 7 3/4 cents to $4.91. SRW basis is better than the three-year average of 3 1/4 cents below futures.

The national average hard red winter (HRW) wheat basis dropped 2 cents over the past week to 28 cents below September futures. The average cash price firmed 6 1/2 cents over the past week to $4.11 3/4. HRW basis is better than the three-year average of 37 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $96.21 last week, down $4.57 from the previous week. Cash cattle prices are likely to trend lower again this week. Last year, the cash price was $111.24.

Choice boxed beef prices dropped another $2.72 over the past week to $206.97. Last year, Choice boxed beef prices were $220.47.

 

HOG COMMENTS

The average lean hog carcass price inched 14 cents higher over the past week to $45.24. Last year's lean carcass price on this date was $73.22.

The pork cutout value dropped $4.73 over the past week to $62.36. Last year at this time, the cutout price stood at $72.69.