CORN COMMENTS
The national average corn basis firmed 3 3/4 cents to 6 1/4 cents above July futures. The national average cash corn price firmed 2 cents to $4.43 1/4.
Basis remains much weaker than the three-year average of 17 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/4 cents to 8 3/4 cents above July futures. The national average cash price firmed 4 1/4 cents to $10.59 1/4.
Basis remains slightly weaker than the three-year average of 10 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis improved 7 1/2 cents to 24 cents below July futures. The average cash price slipped 1 1/4 cents to $5.10 1/4. SRW basis is much better than the three-year average of 36 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 1/4 cents to 52 cents below July futures. The average cash price dropped 12 cents to $4.74 1/4. HRW basis is weaker than the three-year average of 44 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $236.62 last week, up $6.68 from the previous week. Cash cattle are expected to trade roughly steady with week-ago, though prices are likely to be widely varied depending on location. Last year, the cash price was $192.55.
Choice boxed beef firmed $9.60 over the past week to $374.76 Last year at this time, Choice boxed beef prices stood at $317.60.
HOG COMMENTS
The average lean hog carcass price firmed $5.50 over the past week to $103.29. Last year’s lean carcass price on this date was $88.86.
The pork cutout value firmed $6.46 over the past week to $113.08. Last year at this time, the cutout price stood at $99.01.