Midweek Cash Markets | June 22, 2022
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CORN COMMENTS
The national average corn basis weakened 2 3/4 cents over the past week but remains 22 3/4 cents above July futures. The national average cash corn price fell 8 3/4 cents to $7.90 3/4.
Basis is much better than the three-year average of 6 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis weakened 8 cents over the past week but remains 3 3/4 cents above July futures. The national average cash price fell 49 cents to $16.56 1/2.
Basis is better than the three-year average of 3 3/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/2 cents to 48 cents under July futures. The average cash price dropped 72 cents to $9.28 1/2. SRW basis is much weaker than the three-year average of 3 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 1/4 cents to 46 3/4 cents below July futures. The average cash price fell 91 3/4 cents to $9.92 1/2. HRW basis is much weaker than the three-year average of 19 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $143.67 last week, up $3.53 from the previous week. This week’s cash trade started at steady to lower prices in the Southern Plains. Last year at this time, the cash price was $125.47.
Choice boxed beef prices fell $1.65 over the past week to $266.57. Last year, Choice boxed beef prices were $312.05.
HOG COMMENTS
The average lean hog carcass price firmed $2.30 over the past week to $108.76. Last year’s lean carcass price on this date was $111.54.
The pork cutout value firmed $5.36 over the past week to $111.15. Last year at this time, the cutout price stood at $107.82.
