Midweek Cash Markets | April 27, 2022

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CORN COMMENTS

The national average corn basis firmed 4 1/2 cents to a penny above July futures. The national average cash corn price firmed a penny to $8.13 1/4.

Basis is weaker than the three-year average of 13 1/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis firmed a penny over the past week to 5 1/2 cents below July futures. The national average cash price fell 53 cents on the week to $16.87 1/4.

Basis is 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 12 3/4 cents on the rollover to the July contract to stand 52 2/1 cents under futures. The average cash price dropped 9 1/2 cents to $10.38 3/4. SRW basis is much weaker than the three-year average of 7 cents under futures.

The national average hard red winter (HRW) wheat basis fell a nickel on the rollover to the July contract to stand 52 cents below futures. The average cash price dropped 14 1/4 cents to $11.02read. HRW basis is much weaker than the three-year average of 22 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $143.02 last week, up $2.00 from the previous week. This week’s cash trade has occurred at steady to slightly lower prices. Last year at this time, the cash price was $118.89.

Choice boxed beef prices dropped $6.91 over the past week to $261.91. Last year, Choice boxed beef prices were $292.50.

HOG COMMENTS

The average lean hog carcass price firmed $1.34 over the past week to $100.31. Last year’s lean carcass price on this date was $105.95.

The pork cutout value dropped $2.98 over the past week to $105.51. Last year at this time, the cutout price stood at $106.62.