CORN COMMENTS
The national average corn basis firmed 1/2 cent to 3 1/4 cents above July futures. The national average cash corn price dropped 9 1/2 cents to $4.54 1/4.
Basis remains much weaker than the three-year average of 18 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis held at 7 1/4 cents above July futures. The national average cash price dropped 14 1/4 cents to $10.55 3/4.
Basis remains much weaker than the three-year average of 18 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis improved 4 cents to 46 1/2 cents below July futures. The average cash price declined 15 cents to $4.83 3/4. SRW basis is nearly in line with the three-year average of 45 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 62 3/4 cents below July futures. The average cash price dropped 15 cents to $4.62 1/2. HRW basis is much weaker than the three-year average of 44 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $226.97 last week, up 52 cents from the previous week. Cash cattle are expected to trade in a wide range this week, with the strongest prices in the northern market. Last year, the cash price was $188.91.
Choice boxed beef firmed another $5.83 over the past week to $365.42. Last year at this time, Choice boxed beef prices stood at $313.62.
HOG COMMENTS
The average lean hog carcass price firmed $2.18 over the past week to $95.58. Last year’s lean carcass price on this date was $90.02.
The pork cutout value firmed $2.36 over the past week to $102.40. Last year at this time, the cutout price stood at $101.74.