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CORN COMMENTS
The national average corn basis dropped another 11 1/2 cents and is now 2 cents below December futures. The national average cash corn price dropped 26 1/2 cents to $6.68 1/2.
Basis is slightly better than the three-year average of 6 1/2 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 28 cents but remained 12 3/4 cents above November futures. The national average cash price plunged 80 1/2 cents to $14.21 1/2.
Basis is much better than the three-year average of 21 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched 1/4 cent higher to 42 1/2 cents under December futures. The average cash price slipped 1/4 cent to $8.60 3/4. SRW basis is much weaker than the three-year average of 17 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis weakened 1 1/2 cents to 42 1/2 cents below December futures. The average cash price firmed 7 1/2 cents to $9.33 1/2. HRW basis is weaker than the three-year average of 30 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $144.94 last week, up $1.75 from the previous week. This week’s cash trade is expected to be steady to a little weaker. Last year, the cash price was $122.56.
Choice boxed beef fell $1.58 over the past week to $247.55. Last year, Choice boxed beef prices were $297.33.
HOG COMMENTS
The average lean hog carcass price dropped $2.04 over the past week to $94.19. Last year’s lean carcass price on this date was $88.42.
The pork cutout value firmed 42 cents over the past week to $100.77. Last year at this time, the cutout price stood at $115.11.