CORN COMMENTS
The national average corn basis firmed 2 1/2 cents to 24 cents below December futures. The national cash corn index price rose 4 1/4 cents from last Wednesday to $4.78 1/4.
National basis is weaker than the three-year average of 21 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis fell 33 1/2 cents from last week to 16 1/2 cent below November futures. The national cash soybean index price dropped 28 3/4 cents to $12.81.
National basis is still firmer than the three-year average of 33 1/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/4 cents to 49 3/4 cents below December futures. The average cash price rose 12 1/4 cents to $6.36 3/4. SRW basis remains firmer than the three-year average of 67 1/4 cents below December futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 62 1/2 cents below December futures. The average cash price rose 5 3/4 cents to $6.76 1/4. HRW basis is slightly firmer than the three-year average of 68 1/4 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 75.00 cents last week, down from 77.55 cents the previous week. Last year at this time the weekly cotton spot price was 61.87 cents. USDA reported transactions of 5,149 bales last week, down from 6,202 bales reported the week prior and compared to 8,318 from the same period a year prior.
Basis was unchanged from last week at 510 basis points under the December contract and is just wider than the three-year average of 499 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $219.80 last week, down 87 cents from the previous week. Last year at this time cash cattle averaged $230.76. So far this week, USDA has not reported any live cash cattle trade.
Choice boxed beef fell $7.17 over the past week to $375.62. Last year on this date, choice beef was $365.97.
HOG COMMENTS
The average lean hog carcass price was down $3.04 over the last week and stands at $75.52. Last year on this day the lean hog carcass value was $98.63.
The pork cutout value fell $3.24 over the past week to $81.71, according to this afternoon’s report. Last year at this time the pork cutout value was $106.03.