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CORN COMMENTS
The national average corn basis firmed 2 1/4 cents over the past week to stand 96 3/4 cents above September futures. The national average cash corn price fell 20 1/4 cents to $6.46.
Basis is much better than the three-year average, which is 3 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 52 1/2 cents on the rollover to the November contract to stand 86 1/4 cents above futures. The national average cash price fell 25 3/4 cents on the week to $14.47 1/4.
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 2 1/2 cents to 17 1/4 cents under September futures. The average cash price fell 24 1/2 cents to $6.71 1/2. SRW basis is weaker than the three-year average of even with futures.
The national average hard red winter (HRW) wheat basis held at 16 1/2 cents below September futures. The average cash price dropped 9 1/4 cents to $6.43. HRW basis is better than the three-year average of 22 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $120.77 last week, down $2.05 from the previous week. Light trade so far this week has been at roughly steady prices compared with last week. Last year at this time, the cash price was $97.24.
Choice boxed beef prices firmed $7.92 over the past week to $273.16. Last year, Choice boxed beef prices were $201.15.
HOG COMMENTS
The average lean hog carcass price dropped 41 cents over the past week to $111.94 Last year’s lean carcass price on this date was $49.43.
The pork cutout value firmed $2.88 over the past week to $124.97. Last year at this time, the cutout price stood at $67.30.