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CORN COMMENTS
The national average corn basis fell 23 cents over the past week but remains 91 3/4 cents above September futures. The national average cash corn price fell 79 1/2 cents to $6.34 1/2.
Basis is much better than the three-year average, which is 3/4 cent over futures.
SOYBEAN COMMENTS
The national average soybean basis fell 13 1/2 cents over the past week but remains 34 3/4 cents above August futures. The national average cash price fell 76 3/4 cents on the week to $14.01 1/2.
Basis is much better than the three-year average of 11 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 cents over the past week to stand 13 cents under September futures. The average cash price fell 54 1/4 cents to $6.09 1/4. SRW basis is weaker than the three-year average of 1 1/2 cent below futures.
The national average hard red winter (HRW) wheat basis firmed 4 3/4 cents to stand 14 3/4 cents below September futures. The average cash price fell 69 3/4 cents to $5.69 3/4. HRW basis is better than the three-year average of 22 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $123.89 last week, down $1.58 from the previous week. This week’s cash cattle trade started at $1 to $2 lower prices compared with last week. Last year at this time, the cash price was $94.87.
Choice boxed beef prices plunged another $6.39 over the past week to $284.90. Last year, Choice boxed beef prices were $206.97.
HOG COMMENTS
The average lean hog carcass price dropped $2.00 over the past week to $110.13. Last year’s lean carcass price on this date was $45.24.
The pork cutout value firmed $1.90 over the past week to $115.74. Last year at this time, the cutout price stood at $67.10.