CORN COMMENTS
The national average corn basis firmed 3/4 cent to 1 1/2 cents above May futures. The national average cash corn price dropped 8 1/2 cents to $4.73 1/2.
Basis is much weaker than the three-year average of 16 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 1/2 cents to 8 1/2 cents above May futures. The national average cash price firmed 6 3/4 cents to $10.48 3/4.
Basis is equal to the three-year average of 8 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 40 3/4 cents below May futures. The average cash price dropped 13 3/4 cent to $4.87 1/2. SRW basis is much better than the three-year average of 54 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/2 cent to 62 cents below May futures. The average cash price fell 15 3/4 cents to $4.75 3/4. HRW basis is much weaker than the three-year average of 45 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $211.63 last week, up $3.93 from the previous week. Cash cattle are expected to trade steady/higher this week. Last year, the cash price was $184.15.
Choice boxed beef dropped $3.46 over the past week to $331.97. Last year at this time, Choice boxed beef prices stood at $295.74.
HOG COMMENTS
The average lean hog carcass price firmed 73 cents over the past week to $83.71. Last year’s lean carcass price on this date was $88.30.
The pork cutout value firmed $2.35 over the past week to $94.08. Last year at this time, the cutout price stood at $97.27.