CORN COMMENTS
The national average corn basis slipped 2 3/4 cents to 1 1/4 cent above May futures. The national cash corn index price decreased 16 1/4 cents from last Wednesday to $4.55.
National basis is slightly weaker than the three-year average of 2 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 cents to 12 cents below May futures. The national cash soybean index price fell 1 1/4 cents from last week at $11.56 1/2.
National basis is weaker than the three-year average of 4 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 4 1/2 cents to 41 cents below May futures. The average cash price also increased 4 1/2 cents to $5.56. SRW basis remains firmer than the three-year average of 49 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 7 1/2 cent to 64 3/4 cents below May futures. The average cash price increased 3 1/2 cents to $5.48 1/2. HRW basis continues to be weaker than the three-year average of 49 cents under futures despite firming in recent weeks.
COTTON COMMENTS
The seven-market average cotton price last week was 64.69 cents, up 10 points from the previous week. Last year at this time the weekly cotton spot price was 62.04 cents. USDA reported transactions of 15,336 bales last week, up from 50,808 bales reported the week prior and compared to 14,289 from the same period a year prior.
Basis is 7 points wider from last week and currently sits at 332 points under the May board, and is firmer than the three year average of 393 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $235.69 last week, up 61 cents from the previous week. USDA has reported extremely light cash trade so far this week, with that trade averaging $238.
Choice boxed beef gained $2.73 over the past week to $394.42. Last year on this day choice beef was $342.22. Boxed beef price trends have turned relatively choppy after steady increases through most of the first quarter of 2026.
HOG COMMENTS
The average lean hog carcass price was down $1.59 over the last week and currently stands at $90.67. Cash fundamentals continue to limit the upside to futures. Last year’s lean carcass price on this date was $88.23.
The pork cutout value fell 82 cents over the past week to $95.58 according to this afternoon’s report. Last year at this time, the cutout price stood at $95.51.