Midweek Cash Markets | March 30, 2022
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CORN COMMENTS
The national average corn basis firmed 9 1/4 cents to 7 3/4 cents below May futures. The national average cash corn price dropped 10 1/2 cents to $7.30 1/4.
Basis is a weaker than the three-year average of 1 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3/4 cent over the past week to 6 cents below May futures. The national average cash price fell 54 cents on the week to $16.58.
Basis is a little better than the three-year average of 8 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 17 1/2 cents to 58 1/4 cents under May futures. The average cash price fell 61 cents to $9.69. SRW basis is much weaker than the three-year average of 8 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed a dime to 61 1/4 cents below May futures. The average cash price dropped 57 cents to $9.83 1/4. HRW basis is much weaker than the three-year average of 24 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $138.95 last week, down 15 cents from the previous week. This week’s cash trade is expected to be about steady with last week. Last year at this time, the cash price was $118.08.
Choice boxed beef prices firmed $4.93 over the past week to $266.54. Last year, Choice boxed beef prices were $244.83.
HOG COMMENTS
The average lean hog carcass price firmed $2.76 over the past week to $102.13. Last year’s lean carcass price on this date was $97.92.
The pork cutout value fell $2.68 over the past week to $103.72. Last year at this time, the cutout price stood at $105.30.
