CORN COMMENTS
The national average corn basis slipped 1 3/4 cent to 6 cents above September futures. The national cash corn index price fell 9 cents from last Wednesday to $4.03.
Basis remains weaker than the three-year average of 19 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis fell 6 cents to 12 cents below November futures. The national cash soybean index price slipped 12 cents from last Wednesday to $9.65.
Basis remains much weaker than the three-year average of 19 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis gained 13 1/2 cents to 29 1/2 cents below September futures. The average cash price dropped 1 1/2 cents to $4.92. SRW basis continue to remain firmer than the three-year average of 42 cents under futures. The national average hard red winter (HRW) wheat basis fell 1/4 cents to 67 3/4 cents below September futures. The average cash price fell 10 1/4 cents to $4.43 1/4. HRW basis continues to trend weaker than the three-year average of 55 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $243.17 last week, up $3.79 from the previous week. T cash cattle market continues to appear bullish on the technical and fundamental fronts. Reported trade has been light so far this week. Last year, the cash price was $194.45.
Choice boxed beef gained $12.87 over the past week to $374.86. Last year at this time, Choice boxed beef prices stood at $315.81.
HOG COMMENTS
The average lean hog carcass price dropped 54 cents over the past week to $112.49. Last year’s lean carcass price on this date was $85.60.
The pork cutout value fell 90 cents over the past week to $116.41. Last year at this time, the cutout price stood at $104.33.