Midweek Cash Markets | Corn, bean basis firmed over the past week

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CORN COMMENTS

The national average corn basis firmed 5 1/4 cents over the past week to 1/2 cent under December futures. The national average cash corn price firmed 11 1/4 cents to $5.74 3/4.

Basis is slightly better than the three-year average of 2 cents under futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 3 cents over the past week to 4 cents above January futures. The national average cash price surged 63 1/4 cents on the week to $12.81.

Basis is much better than the three-year average of 20 1/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 2 3/4 cents to 32 3/4 cents under December futures. The average cash price firmed 16 1/2 cents to $7.89 1/2. SRW basis is much weaker than the three-year average of 12 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis inched 1/4 cent higher to 22 1/2 cents below December futures. The average cash price firmed 16 3/4 cents to $8.11 1/2. HRW basis is better than the three-year average of 32 1/2 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $131.47 last week, up $2.24 from the previous week. This week’s cash trade started slowly at roughly steady prices, though bids are reportedly firming.  Last year at this time, the cash price was $109.62.

Choice boxed beef prices dropped $7.05 over the past week to $278.47. Last year, Choice boxed beef prices were $222.84.

HOG COMMENTS

The average lean hog carcass price dropped $2.44 over the past week to $76.28. Last year's lean carcass price on this date was $71.25.

The pork cutout value dropped $6.05 over the past week to $84.52. Last year at this time, the cutout price stood at $76.22.