Midweek Cash Markets | July 13, 2022

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CORN COMMENTS

The national average corn basis firmed 40 1/2 cents to 88 cents above September futures. The national average cash corn price firmed 40 3/4 cents to $6.88.

Basis is much better than the three-year average of 36 1/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 9 cents but is still 38 1/2 cents above August futures. The national average cash price firmed 29 1/4 cents to $15.23 1/4.

Basis is much better than the three-year average of 4 1/2 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 2 1/2 cents to 47 cents under September futures. The average cash price firmed 8 3/4 cents to $7.63 3/4. SRW basis is much weaker than the three-year average of 4 1/4 cents under futures.

The national average hard red winter (HRW) wheat basis slipped 1 1/2 cents to 45 1/4 cents below September futures. The average cash price firmed 9 1/4 cents to $8.17. HRW basis is much weaker than the three-year average of 22 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $144.35 last week, down $1.81 from the previous week. This week’s cash trade started around $137 in the Southern Plains and $145 in the northern market – both around steady prices with last week. Last year at this time, the cash price was $122.82.

Choice boxed beef was unchanged at $268.05. Last year, Choice boxed beef prices were $272.88.

HOG COMMENTS

The average lean hog carcass price firmed $2.07 over the past week to $110.31. Last year’s lean carcass price on this date was $110.38.

The pork cutout value firmed $6.78 over the past week to $118.28. Last year at this time, the cutout price stood at $118.69.