CORN COMMENTS
The national average corn basis slipped 20 cents to 20 1/2 cents below December futures. The national cash corn index price firmed 49 3/4 cents from last Wednesday to $5.33 1/2.
National basis is weaker than the three-year average of 3 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 2 1/2 cents from last week to 9 1/4 cents above November futures. The national cash soybean index price rose 70 3/4 cents to $13.20 1/4.
National basis is firmer than the three-year average of 9 1/2 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis widened 19 1/4 cents to 57 1/2 cents below December futures. The average cash price rose 24 1/2 cents to $7.16 1/2. SRW basis is now weaker than the three-year average of 49 3/4 cents below December futures.
The national average hard red winter (HRW) wheat basis widened 11 1/4 cents to 69 cents below December futures. The average cash price rose 31 cents to $7.65 1/4. HRW basis is wider than the three-year average of 54 1/2 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 82.88 cents last week, up from 79.95 cents the previous week. Last year at this time the weekly cotton spot price was 63.11 cents. USDA reported transactions of 934 bales last week, down from 966 bales reported the week prior and compared to 4,051 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 445 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $219.25 last week, down $6.35 from the previous week. Last year at this time cash cattle averaged $243.60. USDA has reported more active cash cattle trading so far this week, with steers averaging $217.92 and heifers $218.00.
Choice boxed beef fell $5.76 over the past week to $378.78. Last year on this date, choice beef was $413.42.
HOG COMMENTS
The average lean hog carcass price was down 43 cents over the last week and stands at $90.32. Last year on this day the lean hog carcass value was $107.69.
The pork cutout value rose 7 cents over the past week to $95.62, according to this afternoon’s report. Last year at this time the pork cutout value was $114.12.