CORN COMMENTS
The national average corn basis firmed 1/4 cent to 5 1/4 cents above September futures. The national cash corn index price gained 1 cent from last Wednesday to $3.91.
Basis remains weaker than the three-year average of 17 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis fell 15 cents to 36 3/4 cents below November futures. The national cash soybean index price fell 1 cent from last Wednesday to $10.06.
Basis remains weaker than the three-year average of 4 1/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 1/4 cent to 34 3/4 cents below September futures. The average cash price dropped 2 cents to $4.71. SRW basis continues to remain firmer than the three-year average of 48 cents under futures.
The national average hard red winter (HRW) wheat basis gained 1 1/4 cents to 62 cents below September futures. The average cash price decreased 5 1/2 cents to $4.39. HRW basis continues to trend weaker than the three-year average of 54 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $242.01 last week, unchanged from the previous week. The cash cattle market fundamentals remain strong and point to demand from consumers remaining steady even at new highs seen. Trade so far this week has been light. Last year the cash price was $189.14.
Choice boxed beef gained $16.62 over the past week to $407.20. Last year at this time, choice boxed beef prices stood at $315.55.
HOG COMMENTS
The average lean hog carcass price gained $1.24 over the past week to $110.23. Last year’s lean carcass price on this date was $83.82.
The pork cutout value is down $1.88 over the past week to $114.67. Last year at this time, the cutout price stood at $99.05.