CORN COMMENTS
The national average corn basis firmed 6 1/2 cents to 18 3/4 cents above March futures. The national average cash corn price dropped 32 3/4 cents to $6.54 1/2.
Basis is better than the three-year average of 5 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis held at 8 1/4 cents above March futures. The national average cash price dropped 45 1/4 cents to $15.02 1/2.
Basis is better than the three-year average of 4 1/4 cents over futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 10 1/2 cents to 51 3/4 cents under March futures. The average cash price fell 37 cents to $6.58 1/4. SRW basis is much weaker than the three-year average of 9 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 36 1/4 cents below March futures. The average cash price dropped 59 cents to $7.80. HRW basis is weaker than the three-year average of 27 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $163.72 last week, up $2.55 from the previous week. Cash cattle are expected to trade higher again this week. Last year, the cash price was $140.61.
Choice boxed beef inched 2 cents higher over the past week to $287.83. Last year at this time, Choice boxed beef prices were $255.72.
HOG COMMENTS
The average lean hog carcass price slipped a nickel over the past week to $76.36. Last year’s lean carcass price on this date was $97.34.
The pork cutout value firmed $1.31 over the past week to $84.36. Last year at this time, the cutout price stood at $108.42.