Midweek Cash Markets | August 25, 2021
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CORN COMMENTS
The national average corn basis firmed a nickel over the past week to 63 3/4 cents above September futures. The national average cash corn price dropped a nickel to $6.15 1/2.
Basis is much better than the three-year average, which is 2 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 1 1/4 cents but remains 30 3/4 cents above November futures. The national average cash price firmed 42 1/4 cents on the week to $13.63 1/2.
Basis is much better than the three-year average of 21 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 3 cents to 23 1/2 cents under September futures. The average cash price dropped 19 cents to $6.87 3/4. SRW basis is weaker than the three-year average of 2 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 3/4 cent to 18 3/4 cents below September futures. The average cash price fell 9 cents to $6.83 1/4. HRW basis is better than the three-year average of 23 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $125.47 last week, up $2.19 from the previous week. This week’s trade started at steady to slightly lower prices. Last year at this time, the cash price was $106.59.
Choice boxed beef prices firmed another $6.81 over the past week to $346.89. Last year, Choice boxed beef prices were $223.04.
HOG COMMENTS
The average lean hog carcass price dropped $2.83 over the past week to $106.34. Last year's lean carcass price on this date was $55.41.
The pork cutout value dropped $10.37 over the past week to $110.24. Last year at this time, the cutout price stood at $70.88.
