CORN COMMENTS
The national average corn basis slipped 5 3/4 cent to 7 1/2 cents above September futures. The national cash corn index price fell 12 cents from last Wednesday to $4.12.
Basis remains weaker than the three-year average of 20 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis gained 4 cents to 6 cents below November futures. The national cash corn index price slipped 19 cents from last Wednesday to $9.77.
Basis remains much weaker than the three-year average of 25 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 4 1/2 cents to 29 1/2 cents below September futures. The average cash price dropped 13 cents to $4.93 1/2. SRW basis continue to remain firmer than the three-year average of 46 cents under futures.
The national average hard red winter (HRW) wheat basis fell 4 1/4 cents to 68 cents below September futures. The average cash price fell 6 cents to $4.53 1/2. HRW basis continues to trend basis weaker than the three-year average of 55 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $239.38 last week, up $1.60 from the previous week. Cash cattle are supported by strong fundamentals and are likely to continue to trade at similar or slightly higher levels again. Last year, the cash price was $195.21.
Choice boxed beef dropped $5.53 over the past week to $361.99. Last year at this time, Choice boxed beef prices stood at $314.48.
HOG COMMENTS
The average lean hog carcass price gained 9 cents over the past week to $113.03. Last year’s lean carcass price on this date was $82.93.
The pork cutout value fell 49 cents over the past week to $117.31. Last year at this time, the cutout price stood at $105.62.