Midweek Cash Markets | October 11, 2023

CORN COMMENTS

The national average corn basis firmed 11 cents to 13 1/2 cents under December futures. The national average cash corn price rose 13 cents to $4.74 1/2.

Basis is slightly weaker than the three-year average of 11 3/4 cents below futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 7 1/4 cents to 28 3/4 cents under November futures. The national average cash price dropped 13 1/4 cents to $12.23 3/4.

Basis is much weaker than the three-year average of 11 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 cents to 87 cents under December futures. The average cash price dropped a penny to $4.69. SRW basis is much weaker than the three-year average of 27 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis inched up 3/4 cent to 66 1/4 cents below December futures. The average cash price firmed 1 1/2 cents to $6.01. HRW basis is much weaker than the three-year average of 34 1/2 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $182.72 last week, down 92 cents from the previous week. Light cash cattle trade so far this week was reported at roughly steady prices in the northern market. Last year, the cash price was $146.99.

Choice boxed beef firmed $3.52 over the past week to $300.28. Last year at this time, Choice boxed beef prices were $246.66.

HOG COMMENTS

The average lean hog carcass price dropped $2.87 over the past week to $80.24. Last year’s lean carcass price on this date was $91.54.

The pork cutout value dropped $2.25 over the past week to $92.39. Last year at this time, the cutout price stood at $103.94.