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CORN COMMENTS
The national average corn basis firmed 3 cents to stand 13 3/4 cents above March futures. The national average cash corn price firmed 23 1/2 cents to $6.96 1/2.
Basis is better than the three-year average of 2 1/2 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 1/4 cents but remained 22 cents above January futures. The national average cash price firmed 23 1/4 cents to $15.28 1/2.
Basis is much better than the three-year average of 1/4 cent over futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 4 1/2 cents to 29 cents under March futures. The average cash price firmed 22 1/4 cents to $7.56 1/2. SRW basis is much weaker than the three-year average of 13 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis fell 2 1/4 cents to 40 1/4 cents below March futures. The average cash price firmed 16 cents to $8.42. HRW basis is weaker than the three-year average of 28 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $156.26 last week, up 57 cents from the previous week. Cash cattle are expected to trade steady to slightly firmer again this week. Last year, the cash price was $139.59.
Choice boxed beef surged another $15.18 over the past week to $280.04. Last year, Choice boxed beef prices were $264.66.
HOG COMMENTS
The average lean hog carcass price dropped 13 cents over the past week to $78.74. Last year’s lean carcass price on this date was $62.04.
The pork cutout value firmed $6.22 over the past week to $88.67. Last year at this time, the cutout price stood at $86.89.