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CORN COMMENTS
The national average corn basis fell 13 3/4 cents over the past week but remains 83 cents above September futures. The national average cash corn price fell 17 1/4 cents to $6.28 3/4.
Basis is much better than the three-year average, which is 1/4 cent over futures.
SOYBEAN COMMENTS
The national average soybean basis fell 24 1/2 cents but remains 61 3/4 cents above November futures. The national average cash price fell 59 3/4 cents on the week to $13.87 1/2.
Basis is much better than the three-year average of 9 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 1/4 cent to 17 1/2 cents under September futures. The average cash price firmed 28 1/4 cents to $6.99 3/4. SRW basis is weaker than the three-year average of 2 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 3/4 cent to 17 1/4 cents below September futures. The average cash price firmed 34 1/2 cents to $6.77 1/2. HRW basis is better than the three-year average of 23 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $121.68 last week, up 91 cents from the previous week. This week’s trade started at steady prices in the Southern Plains and $1 to $2 higher prices in the northern market. Last year at this time, the cash price was $98.66.
Choice boxed beef prices surged $16.18 over the past week to $289.34. Last year, Choice boxed beef prices were $201.11.
HOG COMMENTS
The average lean hog carcass price dropped 15 cents over the past week to $111.79 Last year’s lean carcass price on this date was $52.97.
The pork cutout value dropped $1.98 over the past week to $122.99. Last year at this time, the cutout price stood at $68.01.