CORN COMMENTS
The national average corn basis slipped 1 cent to 1/2 cent below September futures. The national cash corn index price fell ¾ cent from last Wednesday to $4.72 ¾.
National basis is weaker than the three-year average of 17 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis tightened ¼ cent from last week to 12 1/4 cents above November futures. The national cash soybean index price slipped ¼ cent to $12.49 1/4.
National basis is firmer than the three-year average of 4 ¼ cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis tightened 16 ¼ cents to 38 ¼ cents below September futures. The average cash price rose 66 1/2 cents to $6.92 1/4. SRW basis is now stronger than the three-year average of 46 3/4 cents below September futures.
The national average hard red winter (HRW) wheat basis widened 6 cents to 57 ¾ cents below September futures. The average cash price rose 24 cents to $7.34 1/4. HRW basis is slightly wider than the three-year average of 54 3/4 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 79.95 cents last week, up from 77.71 cents the previous week. Last year at this time the weekly cotton spot price was 63.51 cents. USDA reported transactions of 966 bales last week, down from 2,471 bales reported the week prior and compared to 4,799 from the same period a year prior.
Basis was unchanged from last week at 521 basis points under the October contract and is slightly wider than the three-year average of 504 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $225.01 last week, down $3.51 from the previous week. Last year at this time cash cattle averaged $242.01. USDA has reported more active cash cattle trading so far this week, with steers averaging $218.12 and heifers $218.31. Choice boxed beef fell $9.86 over the past week to $385.13. Last year on this date, choice beef was $407.20.
HOG COMMENTS
The average lean hog carcass price was down $3.36 over the last week and stands at $90.75. Last year on this day the lean hog carcass value was $108.40.