Midweek Cash Markets | April 3, 2024

CORN COMMENTS

The national average corn basis firmed 3 1/2 cents to 2 1/4 cents below May futures. The national average cash corn price firmed 2 3/4 cents to $4.29 1/2.

Basis is weaker than the three-year average of 8 1/2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 1 1/4 cents to 3 1/4 cents under May futures. The national average cash price dropped 18 cents to $11.79.

Basis is weaker than the three-year average of 10 1/4 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis dropped 7 1/4 cents to 56 1/4 cents under May futures. The average cash price firmed 5 1/4 cents to $4.99 3/4. SRW basis is weaker than the three-year average of 37 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis dropped a penny to 53 1/2 cents below May futures. The average cash price firmed 2 1/4 cents to $5.27. HRW basis is weaker than the three-year average of 42 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $188.23 last week, down $1.33 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $173.10.

Choice boxed beef dropped $9.79 over the past week to $301.30. Last year at this time, Choice boxed beef prices were $287.94.

HOG COMMENTS

The average lean hog carcass price firmed 89 cents over the past week to $82.73. Last year’s lean carcass price on this date was $72.64.

The pork cutout value dropped 50 cents over the past week to $94.83. Last year at this time, the cutout price stood at $76.85.