CORN COMMENTS
The national average corn basis fell 1 cent to 5 cents above September futures. The national cash corn index price fell 13 cents from last Wednesday to $3.90.
Basis remains weaker than the three-year average of 20 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis fell 9 3/4 cents to 21 3/4 cents below November futures. The national cash soybean index price climbed 42 cents from last Wednesday to $10.07.
Basis remains much weaker than the three-year average of 11 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 18 1/2 cents to 34 1/2 cents below September futures. The average cash price dropped 19 cents to $4.73. SRW basis continues to remain firmer than the three-year average of 48 1/2 cents under futures. The national average hard red winter (HRW) wheat basis gained 4 cents to 63 1/4 cents below September futures. The average cash price increased 1 1/4 cents to $4.44 1/2. HRW basis continues to trend weaker than the three-year average of 55 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $242.01 last week, down $1.16 from the previous week. The cash cattle market finally bucked the trend of increasing prices this week, although the fundamentals continue to remain bullish. Last year the cash price was $191.34.
Choice boxed beef gained $15.72 over the past week to $390.58. Last year at this time, choice boxed beef prices stood at $316.93.
HOG COMMENTS
The average lean hog carcass price dropped $3.50 over the past week to $108.99. Last year’s lean carcass price on this date was $99.29.
The pork cutout value is up 14 cents over the past week to $116.55. Last year at this time, the cutout price stood at $83.60.