CORN COMMENTS
The national average corn basis firmed 6 1/2 cents to even with July futures. The national average cash corn price firmed 2 3/4 cents to $4.45 1/2.
Basis is much weaker than the three-year average of 14 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 3 3/4 cents to 3 1/2 cents above July futures. The national average cash price firmed 34 3/4 cents to $10.81 1/4.
Basis is still much weaker than the three-year average of 18 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 6 cents to 50 1/2 cents below July futures. The average cash price dropped 15 1/2 cents to $4.74 1/4. SRW basis is nearly in line with the three-year average of 51 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/2 cents to 61 1/2 cents below July futures. The average cash price dropped a nickel to $4.61 1/2. HRW basis is much weaker than the three-year average of 46 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $224.80 last week, up $3.83 from the previous week. This week’s initial cash trade took place at firmer prices. Last year, the cash price was $188.54.
Choice boxed beef firmed $3.21 over the past week to $349.36. Last year at this time, Choice boxed beef prices stood at $306.77.
HOG COMMENTS
The average lean hog carcass price firmed 7 cents over the past week to $87.32. Last year’s lean carcass price on this date was $89.87.
The pork cutout value firmed $1.60 over the past week to $97.14. Last year at this time, the cutout price stood at $101.70.