Midweek Cash Markets | July 21, 2021

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CORN COMMENTS

The national average corn basis firmed 2 cents over the past week to stand 94 1/2 cents above September futures. The national average cash corn price firmed 5 1/2 cents to $6.66 1/4.

Basis is much better than the three-year average, which is 3 1/2 cents over futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 2 cents over the past week to 33 3/4 cents above August futures. The national average cash price fell 11 3/4 cents on the week to $14.73.

Basis is much better than the three-year average of 8 3/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis held at 14 3/4 cents under September futures. The average cash price firmed 56 1/2 cents to $6.96. SRW basis is weaker than the three-year average of 1 1/4 cents above futures.

The national average hard red winter (HRW) wheat basis dropped 1 1/4 cents to 16 1/2 cents below September futures. The average cash price firmed 39 3/4 cents to $6.52 1/4. HRW basis is better than the three-year average of 22 1/2 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $122.82 last week, up 66 cents from the previous week. This week’s cash cattle trade has been at steady to lower levels compared with last week. Last year at this time, the cash price was $95.98.

Choice boxed beef prices dropped another $7.64 over the past week to $265.24. Last year, Choice boxed beef prices were $200.76.

 

HOG COMMENTS

The average lean hog carcass price firmed $1.35 over the past week to $112.35. Last year's lean carcass price on this date was $47.10.

The pork cutout value firmed $3.40 over the past week to $122.09. Last year at this time, the cutout price stood at $67.45.

 

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