Midweek Cash Markets | September 21, 2022
Click here for related charts.
Click here for Pro Farmer’s Daily Advice Monitor.
CORN COMMENTS
The national average corn basis dropped another 11 1/4 cents but remained 9 1/2 cents above September futures. The national average cash corn price dropped 8 cents to $6.95.
Basis is better than the three-year average of 3 1/2 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 25 cents but remained 40 3/4 cents above November futures. The national average cash price dropped 18 3/4 cents to $15.02.
Basis is much better than the three-year average of 18 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched 1/4 cent higher to 42 3/4 cents under September futures. The average cash price firmed 31 3/4 cents to $8.61. SRW basis is much weaker than the three-year average of 17 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 41 cents below September futures. The average cash price firmed 20 1/4 cents to $9.26. HRW basis is weaker than the three-year average of 31 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $143.19 last week, up 71 cents from the previous week. This week’s cash trade is again expected to take place at higher prices. Last year, the cash price was $123.64.
Choice boxed beef fell $4.34 over the past week to $249.13. Last year, Choice boxed beef prices were $307.83.
HOG COMMENTS
The average lean hog carcass price firmed 70 cents over the past week to $96.23. Last year’s lean carcass price on this date was $91.33.
The pork cutout value dropped $6.53 over the past week to $100.35. Last year at this time, the cutout price stood at $106.92.
