CORN COMMENTS
The national average corn basis firmed 2 1/2 cents to 4 3/4 cents above May futures. The national average cash corn price dropped 1 1/2 cents to $4.35.
Basis is weaker than the three-year average of 17 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1/2 cent to 3 cents under May futures. The national average cash price dropped 14 3/4 cents to $11.46 1/2.
Basis is much weaker than the three-year average of 20 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 56 1/4 cents under May futures. The average cash price dropped 21 1/2 cents to $4.80 3/4. SRW basis is weaker than the three-year average of 33 cents under futures.
The national average hard red winter (HRW) wheat basis held at 51 3/4 cents below May futures. The average cash price dropped 21 3/4 cents to $5.21. HRW basis is weaker than the three-year average of 37 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $183.84 last week, down $1.89 from the previous week. Cash cattle are expected to trade steady/weaker this week. Last year, the cash price was $178.57.
Choice boxed beef dropped $1.45 over the past week to $296.78. Last year at this time, Choice boxed beef prices were $305.92.
HOG COMMENTS
The average lean hog carcass price firmed $3.68 over the past week to $89.18. Last year’s lean carcass price on this date was $69.16.
The pork cutout value dropped 70 cents over the past week to $99.55. Last year at this time, the cutout price stood at $76.81.