CORN COMMENTS
The national average corn basis firmed 1 3/4 cents to 6 cents below May futures. The national average cash corn price dropped 9 cents to $4.45 1/4.
Basis is weaker than the three-year average of 2 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 3/4 cents to a nickel below May futures. The national average cash price dropped 3 1/2 cents to $9.96.
Basis is weaker than the three-year average of 4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/2 cents to 47 1/2 cents below May futures. The average cash price dropped 26 3/4 cents to $4.87 3/4. SRW basis is better than the three-year average of 53 cents under futures.
The national average hard red winter (HRW) wheat basis firmed a dime to 55 cents below May futures. The average cash price dropped 19 3/4 cents to $5.10. HRW basis is weaker than the three-year average of 51 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record 212.76 last week, up $7.46 from the previous week. Cash cattle are expected to trade steady/firmer, though volume could be limited after big sales last week. Last year, the cash price was $188.23.
Choice boxed beef firmed another $8.69 over the past week to $338.30. Last year at this time, Choice boxed beef prices stood at $311.09.
HOG COMMENTS
The average lean hog carcass price dropped 69 cents over the past week to $86.71. Last year’s lean carcass price on this date was $82.73
The pork cutout value firmed 46 cents over the past week to $95.65. Last year at this time, the cutout price stood at $95.33.