CORN COMMENTS
The national average corn basis firmed 2 3/4 cents to 2 3/4 cents above July futures. The national average cash corn price firmed 18 1/4 cents to $4.63 3/4.
Basis remains weaker than the three-year average of 17 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 3/4 cents to 7 1/4 cents above July futures. The national average cash price dropped 11 1/4 cents to $10.70.
Basis remains much weaker than the three-year average of 21 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 50 1/2 cents below July futures. The average cash price firmed 24 1/2 cents to $4.98 3/4. SRW basis is in line with the three-year average of 50 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 1 1/2 cents to 63 cents below July futures. The average cash price firmed 16 cents to $4.77 1/2. HRW basis is much weaker than the three-year average of 45 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $226.45 last week, up $1.65 from the previous week. Cash cattle prices have traded on both sides of unchanged in light trade so far this week. Last year, the cash price was $190.09.
Choice boxed beef firmed another $10.23 over the past week to $359.59. Last year at this time, Choice boxed beef prices stood at $312.17.
HOG COMMENTS
The average lean hog carcass price firmed $6.08 over the past week to $93.40. Last year’s lean carcass price on this date was $89.23.
The pork cutout value firmed $2.90 over the past week to $100.04. Last year at this time, the cutout price stood at $100.07.