CORN COMMENTS
The national average corn basis firmed a penny to 1 1/4 cents below May futures. The national average cash corn price firmed 17 1/4 cents to $4.72 3/4.
Basis is weaker than the three-year average of 5 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 1/2 cents to 1 3/4 cents above May futures. The national average cash price dropped 14 1/4 cents to $10.14 1/2.
Basis is equal to the three-year average of 1 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 5 1/4 cents to 41 3/4 cents below May futures. The average cash price firmed 8 1/4 cents to $5.00 1/2. SRW basis is better than the three-year average of 52 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3 cents to 51 cents below May futures. The average cash price firmed 2 1/2 cents to $5.17. HRW basis is weaker than the three-year average of 49 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged 211.14 last week, down $1.00 from the previous week. Cash cattle are expected to trade lower this week. Last year, the cash price was $183.84.
Choice boxed beef dropped $2.04 over the past week to $337.86. Last year at this time, Choice boxed beef prices stood at $298.23.
HOG COMMENTS
The average lean hog carcass price dropped 99 cents over the past week to $85.73. Last year’s lean carcass price on this date was $89.18.
The pork cutout value dropped $1.94 over the past week to $90.76. Last year at this time, the cutout price stood at $100.25.