Midweek Cash Markets | October 27, 2021

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CORN COMMENTS

The national average corn basis firmed 4 3/4 cents over the past week to 8 cents under December futures. The national average cash corn price firmed 22 1/4 cents to $5.49 1/4.

Basis is slightly better than the three-year average of 9 1/4 cents under futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 3 1/4 cents over the past week to stand 5 3/4 cents below November futures. The national average cash price declined 3 cents on the week to $12.33 1/2.

Basis is much better than the three-year average of 28 1/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 1/2 cent to 29 3/4 cents under December futures. The average cash price rose 11 cents to $7.30. SRW basis is much weaker than the three-year average of 8 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis improved 1/2 cent to 25 cents below December futures. The average cash price firmed 23 1/2 cents to $7.57 3/4. HRW basis is better than the three-year average of 33 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $124.39 last week, up 55 cents from the previous week. This week’s cash trade started at $1 to $2 higher prices in the Southern Plains and $2 to $4 higher in the northern market.  Last year at this time, the cash price was $105.07.

Choice boxed beef prices firmed $3.60 over the past week to $283.63. Last year, Choice boxed beef prices were $208.47.

HOG COMMENTS

The average lean hog carcass price fell another $4.22 over the past week to $81.67. Last year's lean carcass price on this date was $78.69.

The pork cutout value fell another $2.55 over the past week to $94.32. Last year at this time, the cutout price stood at $82.81.