Midweek Cash Markets | June 28, 2023
CORN COMMENTS
The national average corn basis firmed 47 1/2 cents on the rollover to the September contract to stand 56 cents above futures. The national average cash corn price plunged 92 1/2 cents to $5.87.
Basis is a little weaker than the three-year average of 58 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 2 1/2 cents but remained 75 cents above August futures. The national average cash price fell 86 1/2 cents to $14.36.
Basis is much better than the three-year average of 30 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a penny to 26 3/4 cents under July futures. The average cash price fell 77 3/4 cents to $6.29. SRW basis is in line with the three-year average of 26 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 cents to 45 1/2 cents below July futures. The average cash price fell 73 cents to $7.55 1/4. HRW basis is weaker than the three-year average of 39 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $182.57 last week, down $2.35 from the previous week. Cash cattle started trading around $2 lower than last week’s levels. Last year, the cash price was $146.16.
Choice boxed beef fell $6.35 over the past week to $327.90. Last year at this time, Choice boxed beef prices were $264.88.
HOG COMMENTS
The average lean hog carcass price firmed $4.12 over the past week to $90.10. Last year’s lean carcass price on this date was $108.24.
The pork cutout value firmed $3.00 over the past week to $99.08. Last year at this time, the cutout price stoo
