Midweek Cash Markets | October 13, 2021

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CORN COMMENTS

The national average corn basis firmed 4 1/2 cents over the past week to 8 1/4 cents under December futures. The national average cash corn price fell 15 1/2 cents to $5.04.

Basis is slightly better than the three-year average of 12 1/4 cents under futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 9 1/4 cents over the past week to stand 7 3/4 cents below November futures. The national average cash price fell 37 1/2 cents on the week to $11.87 1/2.

Basis is better than the three-year average of 29 1/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 1/4 cent to 29 3/4 cents under December futures. The average cash price dropped 27 cents to $6.89. SRW basis is much weaker than the three-year average of 7 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 26 1/4 cents below December futures. The average cash price dropped 23 cents to $6.95 1/2. HRW basis is better than the three-year average of 36 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $122.96 last week, up 40 cents from the previous week. This week’s trade started around $124 in the southern and northern markets, suggesting the average price will be firmer than last week. Last year at this time, the cash price was $108.26.

Choice boxed beef prices fell another $6.60 over the past week to $280.02. Last year, Choice boxed beef prices were $216.88.

 

HOG COMMENTS

The average lean hog carcass price fell $3.78 over the past week to $89.73. Last year's lean carcass price on this date was $77.50.

The pork cutout value fell $8.01 over the past week to $104.85. Last year at this time, the cutout price stood at $95.25.

 

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