CORN COMMENTS
The national average corn basis firmed 1 1/2 cents to a dime below May futures. The national average cash corn price firmed 6 1/2 cents to $4.50 3/4.
Basis is weaker than the three-year average of 4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 3/4 cents to 11 1/4 cents below May futures. The national average cash price dropped 8 1/2 cents to $9.89 1/4.
Basis is weaker than the three-year average of a penny under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped a penny to 49 1/4 cents below May futures. The average cash price firmed 4 3/4 cents to $5.04 3/4. SRW basis is much better than the three-year average of 66 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/2 cents to 65 1/2 cents below May futures. The average cash price firmed 17 1/2 cents to $5.07 1/2. HRW basis is weaker than the three-year average of 58 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $200.28 last week, up $2.63 from the previous week. Cash cattle are expected to trade steady/higher again this week. Last year, the cash price was $189.56.
Choice boxed beef firmed $7.56 over the past week to $321.10. Last year at this time, Choice boxed beef prices stood at $309.82.
HOG COMMENTS
The average lean hog carcass price dropped 64 cents over the past week to $87.52. Last year’s lean carcass price on this date was $81.84.
The pork cutout value declined $1.90 over the past week to $94.58. Last year at this time, the cutout price stood at $91.84.