CORN COMMENTS
The national average corn basis dropped 2 cents to 3 1/2 cents below July futures. The national average cash corn price firmed 2 cents to $4.59.
Basis is much weaker than the three-year average of 28 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/2 cents to 8 1/4 cents below July futures. The national average cash price dropped 15 3/4 cents to $12.05 1/4.
Basis is much weaker than the three-year average of 33 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1/4 cent to 48 cents under July futures. The average cash price firmed 36 1/4 cents to $6.22. SRW basis is weaker than the three-year average of 38 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3 1/4 cents to 49 cents below July futures. The average cash price firmed 29 3/4 cents to $6.26. HRW basis is much weaker than the three-year average of 34 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $185.94 last week, up 20 cents from the previous week. Light early cash cattle trade this week has taken place at steady prices. Last year, the cash price was $175.15.
Choice boxed beef jumped $10.10 over the past week to $306.77. Last year at this time, Choice boxed beef prices were $298.15.
HOG COMMENTS
The average lean hog carcass price firmed 9 cents over the past week to $88.86. Last year’s lean carcass price on this date was $77.60.
The pork cutout value firmed $2.41 over the past week to $101.70. Last year at this time, the cutout price stood at $83.07.