Midweek Cash Markets | January 24, 2024

CORN COMMENTS

The national average corn basis firmed 2 1/4 cents to 2 1/2 cents above March futures. The national average cash corn price firmed 12 1/4 cents to $4.54 3/4.

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

SOYBEAN COMMENTS

The national average soybean basis firmed a penny to 2 1/4 cents above March futures. The national average cash price firmed 35 1/2 cents to $12.42 1/2.

Basis is slightly weaker than the three-year average of 3 1/4 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 2 3/4 cents to 56 1/2 cents under March futures. The average cash price firmed 31 cents to $5.54 1/4. SRW basis is much weaker than the three-year average of 23 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis inched down 1/4 cent to 59 1/2 cents below March futures. The average cash price firmed 31 1/2 cents to $5.66 1/4. HRW basis is much weaker than the three-year average of 30 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $173.76 last week, up 29 cents from the previous week. Initial cash cattle trade started at $1.00 higher prices in Texas. Last year, the cash price was $155.25.

Choice boxed beef firmed $1.05 over the past week to $299.50. Last year at this time, Choice boxed beef prices were $268.28.

HOG COMMENTS

The average lean hog carcass price firmed $2.40 over the past week to $68.25. Last year’s lean carcass price on this date was $70.63.

The pork cutout value firmed 90 cents over the past week to $88.86. Last year at this time, the cutout price stood at $79.11.