Midweek Cash Markets | May 25, 2022

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CORN COMMENTS

The national average corn basis firmed 4 cents over the past week to 15 1/4 cents above July futures. The national average cash corn price dropped 5 1/4 cents to $7.87 1/2.

Basis is better than the three-year average of 10 1/2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 9 cents over the past week to 42 cents above July futures. The national average cash price firmed 27 1/4 cents on the week to $17.23.

Basis is much stronger than the three-year average of 1 1/2 cents below futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 1/2 cents over the past week to 49 1/4 cents under July futures. The average cash price fell 78 1/2 cents to $10.99 1/2. SRW basis is much weaker than the three-year average of 8 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1 1/4 cents to 54 3/4 cents below July futures. The average cash price fell 90 cents to $11.78 1/2. HRW basis is much weaker than the three-year average of 19 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $140.25 last week, down $2.19 from the previous week. This week’s cash trade started at lower prices compared with last week. Last year at this time, the cash price was $119.64.

Choice boxed beef prices firmed $2.46 over the past week to $262.93. Last year, Choice boxed beef prices were $329.49.

HOG COMMENTS

The average lean hog carcass price firmed $3.79 over the past week to $102.02. Last year’s lean carcass price on this date was $111.62.

The pork cutout value firmed $8.84 over the past week to $107.07. Last year at this time, the cutout price stood at $123.98.