CORN COMMENTS
The national average corn basis firmed 27 1/4 cents on the rollover to the July contract to stand 44 1/4 cents above futures. The national average cash corn price firmed 7 3/4 cent to $6.80 3/4.
Basis is much better than the three-year average of 2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 27 3/4 cents on the rollover to the July contract to stand 37 3/4 cents above futures. The national average cash price firmed 4 1/4 cents to $15.16 1/2.
Basis is much better than the three-year average of 7 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 7 cents to 47 1/2 cents under July futures. The average cash price firmed 9 1/4 cents to $6.34 1/4. SRW basis is much weaker than the three-year average of 18 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/4 cents to 40 cents below July futures. The average cash price dropped 12 1/2 cents to $8.09 3/4. HRW basis is weaker than the three-year average of 33 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged an all-time high of $180.44 last week, up $7.34 from the previous week. Cash cattle are expected to trade higher again this week. Last year, the cash price was $143.02.
Choice boxed beef surged another $7.44 over the past week to $305.92. Last year at this time, Choice boxed beef prices were $268.82.
HOG COMMENTS
The average lean hog carcass price dropped $2.94 over the past week to $69.70. Last year’s lean carcass price on this date was $100.31.
The pork cutout value firmed 79 cents over the past week to $76.81. Last year at this time, the cutout price stood at $108.49.