CORN COMMENTS
The national average corn basis slipped 3 1/4 cents to 24 cents below December futures. The national cash corn index price fell 18 3/4 cents from last Wednesday to $5.03 3/4.
National basis is weaker than the three-year average of 10 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 9 1/4 cents from last week to 3/4 cent above November futures. The national cash soybean index price fell 10 1/4 cents to $13.10.
National basis is firmer than the three-year average of 21 1/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 5 1/4 cents to 52 1/4 cents below December futures. The average cash price fell 40 1/4 cents to $6.76 1/4. SRW basis is now firmer than the three-year average of 56 3/4 cents below December futures.
The national average hard red winter (HRW) wheat basis firmed 5 1/4 cents to 63 3/4 cents below December futures. The average cash price fell 22 1/2 cents to $7.42 3/4. HRW basis is wider than the three-year average of 60 1/2 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 83.09 cents last week, up from 82.88 cents the previous week. Last year at this time the weekly cotton spot price was 61.95 cents. USDA reported transactions of 6,975 bales last week, down from 934 bales reported the week prior and compared to 1,874 from the same period a year prior.
Basis was four points firmer from last week at 517 basis points under the October contract and is wider than the three-year average of 475 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $219.06 last week, down 19 cents from the previous week. Last year at this time cash cattle averaged $242.55. USDA has not indicated any reportable cash trade thus far this week.
Choice boxed beef rose $1.99 over the past week to $380.77. Last year on this date, choice beef was $407.67.
HOG COMMENTS
The average lean hog carcass price was down $3.15 over the last week and stands at $87.17. Last year on this day the lean hog carcass value was $104.93.
The pork cutout value fell $2.61 over the past week to $93.01, according to this afternoon’s report. Last year at this time the pork cutout value was $114.88.