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CORN COMMENTS
The national average corn basis fell 18 cents over the past week but remains 11 cents above December futures. The national average cash corn price firmed 5 1/4 cents to $5.44 1/2.
Basis is much better than the three-year average, which is 11 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis fell 8 cents over the past week to stand 10 1/4 cents below November futures. The national average cash price firmed 7 cents on the week to $12.84 1/4.
Basis is still much better than the three-year average of 34 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 38 3/4 cents under December futures. The average cash price firmed 2 3/4 cents to $6.73 1/2. SRW basis is much weaker than the three-year average of 14 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 3/4 cent to 28 1/2 cents below December futures. The average cash price firmed 10 1/2 cents to $6.87 1/2. HRW basis is better than the three-year average of 36 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $124.79 last week, down 82 cents from the previous week. This week’s trade started around $124 in the Southern Plains, up slightly from last week’s trade in the region. Last year at this time, the cash price was $101.21.
Choice boxed beef prices fell $15.04 over the past week to $319.82. Last year, Choice boxed beef prices were $227.95.
HOG COMMENTS
The average lean hog carcass price dropped $3.39 over the past week to $95.35. Last year’s lean carcass price on this date was $61.92.
The pork cutout value fell $4.70 over the past week to $105.70. Last year at this time, the cutout price stood at $82.57.