Midweek Cash Markets | July 27, 2022

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CORN COMMENTS

The national average corn basis slipped 2 cents but remained 86 1/4 cents above September futures. The national average cash corn price firmed 6 cents to $6.86 1/2.

Basis is much better than the three-year average of 38 1/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 92 3/4 cents on the rollover to the November contract to stand $1.54 1/2 above futures. The national average cash price firmed 53 3/4 cents to $15.64 1/2.

Basis is much better than the three-year average of 23 1/4 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 2 cents to 42 cents under September futures. The average cash price dropped 27 1/4 cents to $7.48 1/4. SRW basis is much weaker than the three-year average of 6 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis held at 44 1/2 cents below September futures. The average cash price fell 8 3/4 cents to $8.17 1/4. HRW basis is much weaker than the three-year average of 22 1/2 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $142.12 last week, down $1.00 from the previous week. This week’s cash trade started at mostly $1.00 lower prices. Last year at this time, the cash price was $121.68.

Choice boxed beef dropped $2.54 over the past week to $267.99. Last year, Choice boxed beef prices were $273.16.

HOG COMMENTS

The average lean hog carcass price firmed $3.21 over the past week to $117.29. Last year’s lean carcass price on this date was $109.00.

The pork cutout value firmed $2.42 over the past week to $126.79. Last year at this time, the cutout price stood at $124.97.