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CORN COMMENTS
The national average corn basis firmed 4 1/4 cents to 16 3/4 cents above December futures. The national average cash corn price firmed 2 1/4 cents to $6.80.
Basis is much better than the three-year average of 1 1/2 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 3/4 cents to 29 3/4 cents above January futures. The national average cash price firmed 8 1/2 cents to $14.65 3/4.
Basis is much better than the three-year average of 5 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 42 cents under December futures. The average cash price dropped 24 cents to $7.51 1/2. SRW basis is much weaker than the three-year average of 15 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 39 cents below December futures. The average cash price dropped 25 1/4 cents to $8.91 1/4. HRW basis is weaker than the three-year average of 29 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $152.89 last week, up 18 cents from the previous week. Cash cattle traded mostly around $3 higher this week. Last year, the cash price was $138.17.
Choice boxed beef dropped $4.53 over the past week to $252.56. Last year, Choice boxed beef prices were $278.64.
HOG COMMENTS
The average lean hog carcass price dropped $2.93 over the past week to $84.05. Last year’s lean carcass price on this date was $69.38.
The pork cutout value dropped $4.27 over the past week to $89.36. Last year at this time, the cutout price stood at $84.92.