CORN COMMENTS
The national average corn basis held at 7 cents above July futures. The national average cash corn price dropped 33 1/4 cents to $4.17 1/4.
Basis remains weaker than the three-year average of 38 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis improved 3 3/4 cents to 3 cents below November futures. The national average cash price dropped 52 1/2 cents to $10.15 1/2.
Basis remains much weaker than the three-year average of 39 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 cents to 19 3/4 cents below July futures. The average cash price fell 43 cents to $5.08 1/2. SRW basis is much better than the three-year average of 39 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 51 1/4 cents below July futures. The average cash price fell 46 1/4 cents to $4.73. HRW basis is weaker than the three-year average of 43 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $234.88 last week, down $4.03 from the previous week, ending the more than two-month historic price rally. Cash cattle are expected to trade lower again this week with prices likely to be widely varied between the Southern Plains and northern market. Last year, the cash price was $195.81.
Choice boxed beef firmed another $6.07 over the past week to $394.94. Last year at this time, Choice boxed beef prices stood at $322.85.
HOG COMMENTS
The average lean hog carcass price jumped $8.70 over the past week to $121.81. Last year’s lean carcass price on this date was $86.92.
The pork cutout value firmed another $5.20 over the past week to $118.28. Last year at this time, the cutout price stood at $95.52.