CORN COMMENTS
The national average corn basis firmed 3 1/2 cents to 13 3/4 cents above March futures. The national average cash corn price firmed a penny to $6.92 1/4.
Basis is better than the three-year average of 4 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis fell 1 3/4 cent but remained 12 1/2 cents above March futures. The national average cash price dropped 2 1/4 cents to $15.32 1/4.
Basis is much better than the three-year average of 1 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/4 cents to 26 1/4 cents under March futures. The average cash price firmed 6 1/4 cents to $7.38 1/2. SRW basis is much weaker than the three-year average of 10 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 37 cents below March futures. The average cash price firmed 12 cents to $8.59. HRW basis is weaker than the three-year average of 29 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $158.17 last week, up $2.92 from the previous week. Cash cattle are expected to trade solidly higher again this week. Last year, the cash price was $140.48.
Choice boxed beef firmed $2.13 over the past week to $267.20. Last year at this time, Choice boxed beef prices were $277.46.
HOG COMMENTS
The average lean hog carcass price firmed 69 cents over the past week to $71.32. Last year’s lean carcass price on this date was $90.40.
The pork cutout value firmed 34 cents over the past week to $79.29. Last year at this time, the cutout price stood at $97.29.