CORN COMMENTS
The national average corn basis fell a staggering 28 cents to 23 1/2 cents below December futures. The national cash corn index price gained 26 cents from last Wednesday to $4.20 1/4.
Basis remains weaker than the three-year average of 3 1/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis fell 6 cents to 41 1/4 cents below November futures. The national cash soybean index price fell 14 cent from last Wednesday to $10.06.
Basis remains substantially weaker than the three-year average of 9 1/2 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis gained 4 3/4 cents to 26 3/4 cents below September futures. The average cash price increased 7 cents to $4.78. SRW basis continues to remain firmer than the three-year average of 49 1/4 cents under futures. The national average hard red winter (HRW) wheat basis gained 1/2 cent to 61 1/2 cents below September futures. The average cash price decreased 14 cents to $4.25. HRW basis continues to trend weaker than the three-year average of 54 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $243.60 last week, down 65 cents from the previous week. The cash cattle market fundamentals remain strong, but general uncertainty in the economy has caused traders to take a bit of pause. Trade so far this week has been modest, although a trend of heavier trade later in the week has emerged recently. Last year the cash price was $183.81.
Choice boxed beef gained $1.58 over the past week to $413.42. Last year at this time, choice boxed beef prices stood at $310.67.
HOG COMMENTS
The average lean hog carcass price gained $1.24 over the past week to $105.75. Last year’s lean carcass price on this date was $76.78.
The pork cutout value is up $1.25 over the past week to $114.12. Last year at this time, the cutout price stood at $98.82.