Midweek Cash Markets | August 11, 2021

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CORN COMMENTS

The national average corn basis fell 9 1/4 cents over the past week but remains 73 3/4 cents above September futures. The national average cash corn price firmed 1 1/4 cents to $6.30.

Basis is much better than the three-year average, which is 2 3/4 cent under futures.

SOYBEAN COMMENTS

The national average soybean basis slipped 1 1/4 cents but remains 60 1/2 cents above November futures. The national average cash price firmed 13 cents on the week to $14.00 1/2.

Basis is much better than the three-year average of 22 1/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 2 3/4 cents to 20 1/4 cents under September futures. The average cash price firmed 7 cents to $7.06 3/4. SRW basis is weaker than the three-year average of 3 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis slipped 3/4 cent to 18 cents below September futures. The average cash price firmed 14 3/4 cents to $6.92 1/4. HRW basis is better than the three-year average of 23 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $123.83 last week, up $2.15 from the previous week. This week’s trade started in the $121 to $122 range in the Southern Plains. Last year at this time, the cash price was $101.34.

Choice boxed beef prices surged another $21.46 over the past week to $310.80. Last year, Choice boxed beef prices were $203.66.

HOG COMMENTS

The average lean hog carcass price dropped $1.34 over the past week to $110.45. Last year's lean carcass price on this date was $52.92.

The pork cutout value dropped 65 cents over the past week to $122.34. Last year at this time, the cutout price stood at $71.25.