CORN COMMENTS
The national average corn basis firmed 3 3/4 cents to 2 1/4 cents above September futures. The national average cash corn price dropped 7 cents to $3.67 1/2.
Basis is much weaker than the three-year average of 57 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 8 3/4 cents to 10 1/2 cents below November futures. The national average cash price dropped 13 1/4 cents to $9.66 1/2.
Basis is much weaker than the three-year average of 69 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 7 cents to 56 cents below September futures. The average cash price dropped 12 1/2 cents to $4.58 1/4. SRW basis is weaker than the three-year average of 46 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/2 cents to 40 1/2 cents below September futures. The average cash price firmed a dime to $5.04 1/4. HRW basis is better than the three-year average of 46 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $185.54 last week, down $3.60 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $182.50.
Choice boxed beef dropped $7.92 over the past week to $307.29. Last year at this time, Choice boxed beef prices were $315.11.
HOG COMMENTS
The average lean hog carcass price dropped $4.07 over the past week to $85.83. Last year’s lean carcass price on this date was $83.89.
The pork cutout value firmed 73 cents over the past week to $95.28. Last year at this time, the cutout price stood at $92.59.