CORN COMMENTS
The national average corn basis slipped 2 1/2 cent to 13 1/4 cents above September futures. The central Illinois cash corn price fell 7 cents from last Wednesday to $3.89.
Basis remains weaker than the three-year average of 25 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 1/2 cents to 10 cents above November futures. The central Illinois cash price slipped 5 cents from last Wednesday to $9.96.
Basis remains much weaker than the three-year average of 27 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/2 cents to 33 1/2 cents below September futures. The average cash price dropped 2 1/2 cents to $5.06 1/2. SRW basis is firmer than the three-year average of 47 cents under futures.
The national average hard red winter (HRW) wheat basis fell 3 cents to 63 3/4 cents below September futures. The average cash price gained 3 cents to $4.59. HRW basis is weaker than the three-year average of 53 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $237.78 last week, up $.57 from the previous week. Cash cattle are expected to trade about steady this week, though there is again expected to be a wide range of prices. Last year, the cash price was $193.67.
Choice boxed beef dropped $5.33 over the past week to $367.52. Last year at this time, Choice boxed beef prices stood at $313.
HOG COMMENTS
The average lean hog carcass price gained $1.74 over the past week to $112.94. Last year’s lean carcass price on this date was $101.95.
The pork cutout value firmed $3.06 over the past week to $117.80. Last year at this time, the cutout price stood at $99.32.