CORN COMMENTS
The national average corn basis strengthened 1 cent to 7 cents above March futures. The national cash corn index price increased 9 1/4 cents from last Wednesday to $4.37. Basis was largely unchanged as export flows remain strong for corn.
National basis is firmer than the three-year average of 1 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 4 3/4 cents to 3 3/4 cents below March futures. The national cash soybean index price is up 15 1/4 cents from last week at $10.71 1/4.
National basis is weaker than the three-year average of 2 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis widened 10 cents to 37 3/4 cents below March futures. The average cash price increased 18 1/4 cents to $4.98 1/4. SRW basis still remains firmer than the three-year average of 44 3/4 cents under futures despite the widening. Wheat futures rallied in today’s trading session and are up 28 1/2 cents from last Wednesday’s close. The rally in futures has offset the moderate decline in basis resulting in higher cash prices.
The national average hard red winter (HRW) wheat basis slipped 5 1/4 cents to 77 1/4 cents below March futures. The average cash price increased 17 3/4 cents to $4.64 3/4. HRW basis continues to be weaker than the three-year average of 51 3/4 cents under futures. HRW saw similar price action to SRW, with the futures markets likely pushing higher over concerns of winterkill in the crop.
COTTON COMMENTS
The seven-market average cotton price last week was 60.27 cents, down 81 points from the previous week. Last year at this time the weekly cotton spot price was 63.38 cents. USDA reported transactions of 76,253 bales last week, down from 105,975 bales reported the week prior and compared to 58,050 from the same period a year prior.
Basis strengthened 13 points to 353 under the March board, slightly wider than the three year average of 312 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $234.70 last week, up $2.20 from the previous week. USDA has reported light cash trade so far this week, with that trade averaging $234.00. Negotiations are likely to remain light this week ahead of Friday’s Cattle Inventory report from USDA. A winter storm with large amounts of ice and snow impacted most of the eastern U.S. this week, adding stress to livestock, limiting the ability of those animals to put on weight as efficiently.
Choice boxed beef gained $3.63 over the past week to $369.74. Last year on this day choice beef was $332.45. Consumer demand for higher priced cuts softened late in 2025 but other value products, namely ground beef, see robust demand according to research from the Beef Checkoff.
HOG COMMENTS
The average lean hog carcass price was up $2.42 over the last week and currently stands at $85.31. Last year’s lean carcass price on this date was $81.98.
The pork cutout value gained $1.07 over the past week to $95.05 according to this afternoon’s report. Last year at this time, the cutout price stood at $92.86. Pork cutout may see a boost this week as retailers look to re-stock after the winter storm in the U.S. prompted consumers to rush to grocery stores.