Midweek Cash Markets | July 14, 2021

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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.

 

Latest News

First Thing Today | March 31, 2023

Price action was relatively quiet in the grain and soy markets overnight as traders await key USDA report data later this morning.

U.S. hog herd slightly bigger than year-ago

Data was mostly neutral and shouldn't have a direct impact on trade Friday.

After the Bell | March 30, 2023

After the Bell | March 30, 2023

Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

Biden’s Trade Policy Comes Under Attack

More U.S. corn to China | State of U.S. dairy industry | Ag checkoffs | FAPRI vs CBO

Ahead of the Open | March 30, 2023

Grain and soy futures are expected to open with a firmer tone this morning on support from HRW crop concerns and bullish corn export demand news as there was another daily corn sale to China.