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CORN COMMENTS
The national average corn basis fell 2 3/4 cents on the rollover to the March contract to stand 14 cents above futures. The national average cash corn price firmed a penny to $6.81.
Basis is better than the three-year average of 6 1/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 1/2 cents to 31 1/4 cents above January futures. The national average cash price firmed 35 cents to $15.00 3/4.
Basis is much better than the three-year average of 1/4 cent under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 14 1/2 cents on the rollover to the March contract to stand 56 1/2 cents under futures. The average cash price dropped 12 1/2 cents to $7.39. SRW basis is much weaker than the three-year average of 18 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 10 1/4 cents to stand 28 1/4 cents below March futures. The average cash price dropped 19 3/4 cents to $8.71 1/2. HRW basis is a little better than the three-year average of 31 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $156.07 last week, up $3.18 from the previous week. Cash cattle are expected to trade firmer again this week. Last year, the cash price was $140.44.
Choice boxed beef firmed $2.32 over the past week to $254.88. Last year, Choice boxed beef prices were $270.22.
HOG COMMENTS
The average lean hog carcass price dropped $2.45 over the past week to $82.60. Last year’s lean carcass price on this date was $70.57.
The pork cutout value dropped $2.03 over the past week to $87.33. Last year at this time, the cutout price stood at $82.37.