Midweek Cash Markets | June 30, 2021

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CORN COMMENTS

The national average corn basis surged 99 3/4 cents on the rollover to the September contract to stand $1.14 3/4 above futures. The national average cash corn price rose 41 cents to $7.14.

Basis is much better than the three-year average, which is 2 3/4 cents over futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 38 1/2 cents on the rollover to the August contract to stand 48 1/4 cents above futures. The national average cash price surged 83 1/2 cents on the week to $14.78 1/4.

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 dropped 11 1/2 cents on the rollover to the September contract to stand 16 cents below futures. The average cash price firmed 6 3/4 cents to $6.63 1/2. SRW basis is much weaker than the three-year average of 3 1/2 cent above futures.

The national average hard red winter (HRW) wheat basis fell 6 3/4 cents on the rollover to the September contract to stand 19 1/2 cents below futures. The average cash price firmed 40 1/4 cents to $6.39 1/2. HRW basis is weaker than the three-year average of 13 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $125.47 last week, up $2.63 from the previous week. This week’s cash cattle trade started around steady prices with last week. Last year at this time, the cash price was $100.78.

Choice boxed beef prices plunged another $20.76 over the past week to $291.29. Last year, Choice boxed beef prices were $209.69.

HOG COMMENTS

The average lean hog carcass price dropped $7.36 over the past week to $112.13. Last year's lean carcass price on this date was $45.10.

The pork cutout value firmed $6.02 over the past week to $113.84. Last year at this time, the cutout price stood at $62.36.