CORN COMMENTS
The national average corn basis dropped 2 cents but remained 1/2 cent above September futures. The national average cash corn price dropped 4 1/4 cents to $3.81 1/2.
Basis is much weaker than the three-year average of 57 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 10 1/4 cents but remained 9 1/2 cents above November futures. The national average cash price dropped 60 1/2 cents to $9.78.
Basis is much weaker than the three-year average of 69 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 3/4 cents to 49 1/2 cents below September futures. The average cash price slipped 1 3/4 cents to $4.85 1/4. SRW basis is weaker than the three-year average of 41 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/2 cent to 41 3/4 cents below September futures. The average cash price dropped 9 3/4 cents to $5.04 1/2. HRW basis is about in line with the three-year average of 40 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $191.34 last week, down $3.11 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $185.04.
Choice boxed beef firmed $1.03 over the past week to $314.88. Last year at this time, Choice boxed beef prices were $308.99.
HOG COMMENTS
The average lean hog carcass price dropped $2.85 over the past week to $88.47. Last year’s lean carcass price on this date was $95.10.
The pork cutout value dropped $1.01 over the past week to $99.31. Last year at this time, the cutout price stood at $107.27.