CORN COMMENTS
The national average corn basis firmed a penny to 8 1/4 cents below March futures. The national average cash corn price rose 13 3/4 cents to $4.88 3/4.
Basis is much weaker than the three-year average of 4 3/4 cent above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 3 1/2 cents to 14 cents below March futures. The national average cash price firmed 2 cents to $10.46 1/2.
Basis is much weaker than the three-year average of 5 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 12 3/4 cents to 38 1/4 cents below March futures as several locations added an old-crop bid. The average cash price firmed 21 1/4 cents to $5.24 1/4. SRW basis is in line with the three-year average of 38 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 3/4 cent to 59 cents below March futures. The average cash price firmed 4 3/4 cents to $5.21 1/4. HRW basis is much weaker than the three-year average of 40 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $209.19 last week, up $5.52 from the previous week. After surging $24.40 during a 10-week span of gains, cash cattle prices may decline this week, though it’s unlikely they will fall much as feedlots are current. Last year, the cash price was $177.80.
Choice boxed beef dropped $1.48 over the past week to $330.54. Last year at this time, Choice boxed beef prices were $294.54.
HOG COMMENTS
The average lean hog carcass price firmed 80 cents over the past week to $80.83. Last year’s lean carcass price on this date was $72.78.
The pork cutout value firmed $3.14 over the past week to $93.31. Last year at this time, the cutout price stood at $87.56.