CORN COMMENTS
The national average corn basis firmed 3/4 cent to 7 cents above July futures. The national average cash corn price firmed 7 1/4 cents to $4.50 1/2.
Basis remains weaker than the three-year average of 10 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 15 1/2 cents to 6 3/4 cents below July futures. The national average cash price firmed 8 3/4 cents to $10.68.
Basis remains much weaker than the three-year average of 29 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/4 cents to 22 3/4 cents below July futures. The average cash price jumped 41 1/4 cents to $5.51 1/2. SRW basis is much better than the three-year average of 34 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis held at 52 cents below July futures. The average cash price firmed 45 cents to $5.19 1/4. HRW basis is weaker than the three-year average of 44 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $238.68 last week, up $2.06 from the previous week. Cash cattle are expected to trade in a wide range, with highly varied prices between the Southern Plains and the northern market. Last year, the cash price was $194.84.
Choice boxed beef jumped another $14.11 over the past week to $388.87 Last year at this time, Choice boxed beef prices stood at $320.52.
HOG COMMENTS
The average lean hog carcass price firmed $2.76 over the past week to $106.05. Last year’s lean carcass price on this date was $87.59.
The pork cutout value firmed another $5.20 over the past week to $118.28. Last year at this time, the cutout price stood at $98.03.