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CORN COMMENTS
The national average corn basis fell 8 1/4 cents over the past week to 14 cents under December futures. The national average cash corn price firmed 5 1/4 cents to $5.25.
Basis is now weaker than the three-year average, which is 12 3/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis fell 7 1/4 cents over the past week to stand 21 1/4 cents below November futures. The national average cash price dropped 6 1/4 cents on the week to $12.62 1/2.
Basis is still better than the three-year average of 32 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 1/2 cent to 36 1/2 cents under December futures. The average cash price firmed 4 cents to $6.73 3/4. SRW basis is much weaker than the three-year average of 11 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed a penny to 27 cents below December futures. The average cash price firmed 6 3/4 cents to $6.84 3/4. HRW basis is better than the three-year average of 36 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $123.64 last week, down 24 cents from the previous week. This week’s trade started around steady prices. Last year at this time, the cash price was $105.05.
Choice boxed beef prices fell another $10.50 over the past week to $297.33. Last year, Choice boxed beef prices were $215.87.
HOG COMMENTS
The average lean hog carcass price firmed 27 cents over the past week to $92.92. Last year’s lean carcass price on this date was $72.89.
The pork cutout value firmed $8.19 over the past week to $115.11. Last year at this time, the cutout price stood at $90.39.