CORN COMMENTS
The national average corn basis slipped 3/4 cent to 2 1/2 cents above July futures. The national average cash corn price dropped 13 cents to $4.41 1/4.
Basis remains much weaker than the three-year average of 20 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 3/4 cents to a dime above July futures. The national average cash price slipped 3/4 cent to $10.55.
Basis remains weaker than the three-year average of 16 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis improved 14 3/4 cents to 31 3/4 cents below July futures as more locations offered a new-crop delivery bid. The average cash price firmed 27 3/4 cents to $5.11 1/2. SRW basis is much better than the three-year average of 42 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 8 1/2 cents to 54 1/4 cents below July futures. The average cash price firmed 23 3/4 cents to $4.86 1/4. HRW basis is much weaker than the three-year average of 43 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $229.94 last week, up $2.97 from the previous week. Cash cattle are expected to trade steady/firmer this week. Last year, the cash price was $188.92.
Choice boxed beef slipped 26 cents over the past week to $365.16. Last year at this time, Choice boxed beef prices stood at $314.79.
HOG COMMENTS
The average lean hog carcass price firmed $2.21 over the past week to $97.79. Last year’s lean carcass price on this date was $89.60.
The pork cutout value firmed $4.22 over the past week to $106.62. Last year at this time, the cutout price stood at $100.31.