Midweek Cash Markets | June 22, 2022

( )

Click here for related charts.

Click
here for Pro Farmer’s Daily Advice Monitor.

 

CORN COMMENTS

The national average corn basis weakened 2 3/4 cents over the past week but remains 22 3/4 cents above July futures. The national average cash corn price fell 8 3/4 cents to $7.90 3/4.

Basis is much better than the three-year average of 6 cents above futures.

 

SOYBEAN COMMENTS

The national average soybean basis weakened 8 cents over the past week but remains 3 3/4 cents above July futures. The national average cash price fell 49 cents to $16.56 1/2.

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

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 1 1/2 cents to 48 cents under July futures. The average cash price dropped 72 cents to $9.28 1/2. SRW basis is much weaker than the three-year average of 3 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 2 1/4 cents to 46 3/4 cents below July futures. The average cash price fell 91 3/4 cents to $9.92 1/2. HRW basis is much weaker than the three-year average of 19 3/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $143.67 last week, up $3.53 from the previous week. This week’s cash trade started at steady to lower prices in the Southern Plains. Last year at this time, the cash price was $125.47.

Choice boxed beef prices fell $1.65 over the past week to $266.57. Last year, Choice boxed beef prices were $312.05.

 

HOG COMMENTS

The average lean hog carcass price firmed $2.30 over the past week to $108.76. Last year’s lean carcass price on this date was $111.54.

The pork cutout value firmed $5.36 over the past week to $111.15. Last year at this time, the cutout price stood at $107.82.

 

Latest News

Schumer Sends Some Reconciliation Text to Parliamentarian; Talks Continue on Package

Waiting for Godot? U.S. to press India on subsidies for rice and wheat

Ahead of the Open | July 6, 2022

Grain, soybean futures expected higher on corrective buying, weaker USDA crop ratings.

Shanghai Reports Fresh COVID Cases | July 6, 2022

N.Y. Fed views greenback status as 'unchallenged,' Ukraine expects grain harvest to be 'not bad,' and traders anticipate near-term strength in the cash hog market...

First Thing Today | July 6, 2022

Corn futures traded lower for much of the overnight session but are mildly firmer this morning, while soybeans and wheat are showing stronger corrective gains following Tuesday’s sharp losses.

Corn, soybean CCI ratings drop, spring wheat improves

The soybean CCI rating dropped below the five-year average for the first time this growing season.

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.