Midweek Cash Markets | January 26, 2022

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CORN COMMENTS

The national average corn basis firmed a penny over the past week to 4 cents above March futures. The national average cash corn price firmed 17 1/2 cents to $6.31.

Basis is better than the three-year average of 2 1/4 cent under futures.

SOYBEAN COMMENTS

The national average soybean basis fell 1 3/4 cents over the past week but remains 1/4 cent above March futures. The national average cash price firmed 47 cents on the week to $14.40 1/4.

Basis is much better than the three-year average of 18 3/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis held at 30 cents under March futures. The average cash price slipped 1 1/2 cents to $7.65. SRW basis is much weaker than the three-year average of 2 1/2 cent under futures.

The national average hard red winter (HRW) wheat basis held at 23 cents below March futures. The average cash price firmed 15 3/4 cents to $7.92 3/4. HRW basis is slightly better than the three-year average of 28 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $137.50 last week, up 89 cents from the previous week. This week’s cash trade thus far has been in the $136 to $137 range. Last year at this time, the cash price was $112.44.

Choice boxed beef prices dropped $2.14 over the past week to $289.46. Last year, Choice boxed beef prices were $229.66.

HOG COMMENTS

The average lean hog carcass price firmed $2.35 over the past week to $79.20. Last year’s lean carcass price on this date was $66.96.

The pork cutout value dropped $3.01 over the past week to $92.46. Last year at this time, the cutout price stood at $79.62.