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CORN COMMENTS
The national average corn basis dropped 15 cents on the week but remains 8 3/4 cents above July futures. The national average cash corn price fell 23 3/4 cents to $6.73.
Basis is better than the three-year average, which is 1/2 cent over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 9 1/2 cents over the past week but is still 9 3/4 cents above July futures. The national average cash price plunged $1.73 on the week to $13.94 3/4.
Basis is much better than the three-year average of 12 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 2 1/2 cents to 4 1/2 cents below July futures. The average cash price fell 4 cents to $6.56 3/4. SRW basis is weaker than the three-year average of 4 1/4 cent above futures.
The national average hard red winter (HRW) wheat basis firmed 1/2 cent to 12 3/4 cents below futures. The average cash price fell 1 3/4 cents to $5.99 1/4. HRW basis is in line with the three-year average of 12 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $122.84 last week, up $2.81 from the previous week. This week’s cash cattle trade started around $124.00. Last year at this time, the cash price was $100.78.
Choice boxed beef prices fell another $17.12 over the past week to $312.05. Last year, Choice boxed beef prices were $217.93.
HOG COMMENTS
The average lean hog carcass price dropped $3.10 over the past week to $119.49. Last year’s lean carcass price on this date was $47.37
The pork cutout value fell another $12.70 over the past week to $107.82. Last year at this time, the cutout price stood at $67.09.