CORN COMMENTS
The national average corn basis firmed 2 cents to 6 3/4 cents above May futures. The national average cash corn price firmed 9 1/2 cents to $4.44 1/2.
Basis is much weaker than the three-year average of 25 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 4 1/4 cents to 1 1/4 cents above May futures. The national average cash price firmed 20 3/4 cents to $11.67 1/4.
Basis is much weaker than the three-year average of 30 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 jumped 57 1/2 cents to $5.38 1/4. SRW basis is weaker than the three-year average of 38 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis slipped a penny to 52 3/4 cents below May futures. The average cash price increased 50 1/2 cents to $5.71 1/2. HRW basis is weaker than the three-year average of 36 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $182.67 last week, down $1.17 from the previous week. Light early cash cattle trade occurred in the Southern Plains at mostly steady prices. Last year, the cash price was $177.15.
Choice boxed beef dropped $1.04 over the past week to $295.74. Last year at this time, Choice boxed beef prices were $309.24.
HOG COMMENTS
The average lean hog carcass price firmed 14 cents over the past week to $89.32. Last year’s lean carcass price on this date was $70.86.
The pork cutout value dropped $2.28 over the past week to $97.27. Last year at this time, the cutout price stood at $78.37.