CORN COMMENTS
The national average corn basis fell 2 cents to 5 1/4 cents below March futures. The national average cash corn price firmed 16 1/4 cents to $4.43.
Basis is weaker than the three-year average of 3 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/2 cents to 4 cents above January futures. The national average cash price firmed 10 1/4 cents to $9.99 1/2.
Basis is weaker than the three-year average of 8 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched up 1/4 cent to 63 1/4 cents below March futures. The average cash price firmed 15 1/4 cents to $5.00. SRW basis is much weaker than the three-year average of 45 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 60 1/2 cents below March futures. The average cash price firmed 25 cents to $5.06 3/4. HRW basis is much weaker than the three-year average of 41 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $190.90 last week, up 93 cents from the previous week. This week’s cash cattle trade has been at mostly $1.00 to $2.00 higher prices. Last year, the cash price was $168.71.
Choice boxed beef firmed $2.90 over the past week to $311.23. Last year at this time, Choice boxed beef prices were $291.64
HOG COMMENTS
The average lean hog carcass price dropped $1.11 over the past week to $80.93. Last year’s lean carcass price on this date was $65.31.
The pork cutout value firmed $3.27 over the past week to $92.87. Last year at this time, the cutout price stood at $83.93.