Midweek Cash Markets | November 23, 2021

( )

Click here for related charts.

Click
here for Pro Farmer’s Daily Advice Monitor.

 

CORN COMMENTS

The national average corn basis firmed 2 3/4 cents over the past week to 3 1/4 cents under December futures. The national average cash corn price firmed 9 cents to $5.74 3/4.

Basis is better than the three-year average of 1/4 cent under futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 4 1/4 cents over the past week to 8 1/4 cents above January futures. The national average cash price firmed 1/4 cent on the week to $12.81 1/4.

Basis is much better than the three-year average of 18 3/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis inched 1/4 cent higher to 32 1/2 cents under December futures. The average cash price firmed 34 cents to $8.23 1/2. SRW basis is much weaker than the three-year average of 9 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis inched 1/4 higher to 22 1/4 cents below December futures. The average cash price firmed 45 cents to $8.56 1/2. HRW basis is better than the three-year average of 29 3/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $133.11 last week, up $1.64 from the previous week. This week’s cash trade started around $136 in the South and $137 in the northern market, though initial takers at that level were limited amid expectations packers will continue to raise bids, as they’ve done the past several weeks.  Last year at this time, the cash price was $109.57.

Choice boxed beef prices firmed 17 cents over the past week to $278.64. Last year, Choice boxed beef prices were $235.84.

 

HOG COMMENTS

The average lean hog carcass price dropped $3.13 over the past week to $73.15. Last year's lean carcass price on this date was $69.32.

The pork cutout value firmed 40 cents over the past week to $84.92. Last year at this time, the cutout price stood at $76.62.

 

Latest News

Extended decline in corn, bean CCI ratings continues

CCI ratings have dropped 11 consecutive weeks for corn and eight straight for soybeans.

After the Bell | September 26, 2022

Corn futures drop near four-week low, soybeans near three-week low as surging dollar, recession worries pressure commodities.

Corn, soybean export inspections sluggish

Weekly grain inspected for export through Sept. 22, proved dismal as corn and soybean inspections were reported below expectations, while wheat inspections were notably lower for the week but within the expected range.

Monday Morning Wake Up Call | September 26, 2022

Grain and soy futures traded lower overnight on global economic concerns although soybeans recovered slightly on the open. Cattle futures are mildly higher with lean hogs under pressure to start the week.

Ahead of the Open | September 26, 2022

Soybean futures drop to two-week lows, corn and wheat also lower on intensifying recession worries.

OECD Issues Bleak Warning About Global Economy | British Pound Takes a Pounding ALL

House Ag panel Republicans want some answers on alleged Biden/USDA overreach using executive actions