Midweek Cash Markets | April 10, 2024
CORN COMMENTS
The national average corn basis firmed 4 1/2 cents to 2 1/4 cents above May futures. The national average cash corn price firmed 7 cents to $4.36 1/2.
Basis is weaker than the three-year average of 8 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 1/4 cent to 3 1/2 cents under May futures. The national average cash price dropped 17 3/4 cents to $11.61 1/4.
Basis is weaker than the three-year average of 11 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 56 1/4 cents under May futures. The average cash price firmed 2 1/2 cents to $5.02 1/4. SRW basis is weaker than the three-year average of 38 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 3/4 cents to 51 3/4 cents below May futures. The average cash price firmed 15 3/4 cents to $5.42 3/4. HRW basis is weaker than the three-year average of 37 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $185.73 last week, down $2.50 from the previous week. Cash cattle are expected to trade steady/weaker this week. Last year, the cash price was $180.44.
Choice boxed beef dropped $3.07 over the past week to $298.23. Last year at this time, Choice boxed beef prices were $298.48.
HOG COMMENTS
The average lean hog carcass price firmed $2.77 over the past week to $85.50. Last year’s lean carcass price on this date was $69.70.
The pork cutout value firmed $5.42 over the past week to $100.25. Last year at this time, the cutout price stood at $76.02.
