Midweek Cash Markets | April 13, 2022

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CORN COMMENTS

The national average corn basis firmed 2 1/4 cents to 2 1/2 cents below May futures. The national average cash corn price firmed 22 1/2 cents to $7.73 3/4.

Basis is weaker than the three-year average of 3 1/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 3 3/4 cents over the past week to a penny above May futures. The national average cash price firmed 54 1/2 cents on the week to $16.71 1/4.

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

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis slipped a penny to 45 1/2 cents under May futures. The average cash price firmed 64 1/2 cents to $10.58 1/4. SRW basis is much weaker than the three-year average of 13 1/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 3 3/4 cents to 55 1/2 cents below May futures. The average cash price firmed 81 cents to $11.06 3/4. HRW basis is much weaker than the three-year average of 22 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $138.82 last week, down 50 cents from the previous week. This week’s cash trade started at prices around $1 higher. Last year at this time, the cash price was $122.03.

Choice boxed beef prices firmed $2.43 over the past week to $273.47. Last year, Choice boxed beef prices were $272.91.

HOG COMMENTS

The average lean hog carcass price dropped $1.72 over the past week to $98.00. Last year’s lean carcass price on this date was $102.79.

The pork cutout value firmed $2.43 over the past week to $106.80. Last year at this time, the cutout price stood at $108.85.