Midweek Cash Markets | September 8, 2021

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CORN COMMENTS

The national average corn basis improved 5 3/4 cents over the past week to 29 cents above December futures. The national average cash corn price dropped 6 3/4 cents to $5.39 1/4.

Basis is much better than the three-year average, which is 9 1/4 cents under futures.

 

SOYBEAN COMMENTS

The national average soybean basis fell 8 1/2 cents over the past week to stand 2 1/4 cents below November futures. The national average cash price dropped 6 3/4 cents on the week to $12.77 1/4.

Basis is still much better than the three-year average of 30 1/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 7 3/4 cents to 38 3/4 cents under December futures. The average cash price dropped 12 1/2 cents to $6.70 3/4. SRW basis is much weaker than the three-year average of 12 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/2 cent to 27 3/4 cents below December futures. The average cash price firmed 1 1/4 cents to $6.77. HRW basis is better than the three-year average of 40 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $125.61 last week, down 11 cents from the previous week. This week’s trade started around $124 in the Southern Plains, steady to $1 higher than prices in this region last week.  Last year at this time, the cash price was $103.12.

Choice boxed beef prices fell $3.59 over the past week to $334.86. Last year, Choice boxed beef prices were $227.58.

 

HOG COMMENTS

The average lean hog carcass price dropped $3.93 over the past week to $98.74. Last year's lean carcass price on this date was $57.51.

The pork cutout value firmed $3.86 over the past week to $110.40. Last year at this time, the cutout price stood at $79.32.

 

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