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CORN COMMENTS
The national average corn basis inched 3/4 cent higher over the past week to stand 92 1/2 cents above September futures. The national average cash corn price firmed 26 1/4 cents to $6.60 3/4.
Basis is much better than the three-year average, which is 1 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis fell 3 cents over the past week but remains 31 3/4 cents above August futures. The national average cash price firmed 83 1/4 cents on the week to $14.84 3/4.
Basis is much better than the three-year average of 9 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 1 3/4 cents over the past week to stand 14 3/4 cents under September futures. The average cash price firmed 30 1/4 cents to $6.39 1/2. SRW basis is weaker than the three-year average of 3 cents above futures.
The national average hard red winter (HRW) wheat basis slipped 1/2 cent to stand 15 1/4 cents below September futures. The average cash price firmed 42 3/4 cents to $6.12 1/2. HRW basis is better than the three-year average of 23 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $122.16 last week, down $1.73 from the previous week. This week’s cash cattle trade started at steady to firmer prices compared with last week. Last year at this time, the cash price was $95.98.
Choice boxed beef prices plunged another $12.02 over the past week to $272.88. Last year, Choice boxed beef prices were $203.83.
HOG COMMENTS
The average lean hog carcass price firmed 87 cents over the past week to $111.00. Last year’s lean carcass price on this date was $45.35.
The pork cutout value firmed $2.95 over the past week to $118.69. Last year at this time, the cutout price stood at $68.26.