CORN COMMENTS
The national average corn basis firmed 3 1/4 cents to stand 44 1/2 cents above July futures. The national average cash corn price firmed 8 3/4 cents to $6.38 1/2.
Basis is much better than the three-year average of 14 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 3/4 cent but remained 30 1/2 cents above July futures. The national average cash price dropped 14 1/4 cents to $14.34 1/2.
Basis is better than the three-year average of 26 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 20 1/4 cents to 53 3/4 cents under July futures. The average cash price dropped 18 3/4 cents to $5.87 3/4. SRW basis is much weaker than the three-year average of 19 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 13 cents to 33 cents below July futures. The average cash price firmed 57 1/4 cents to $8.22 1/4. HRW basis is in line with the three-year average of 33 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $173.93 last week, down $3.22 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $142.44.
Choice boxed beef fell $2.02 over the past week to $306.87. Last year at this time, Choice boxed beef prices were $255.08.
HOG COMMENTS
The average lean hog carcass price firmed $1.60 over the past week to $72.46. Last year’s lean carcass price on this date was $98.23.
The pork cutout value firmed $1.67 over the past week to $81.74. Last year at this time, the cutout price stood at $99.49.