CORN COMMENTS
The national average corn basis fell 2 1/2 cents to 7 3/4 cents below March futures. The national average cash corn price dropped 13 1/2 cents to $4.29 1/2.
Basis is weaker than the three-year average of 2 1/2 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 1/4 cents to 1 3/4 cents above January futures. The national average cash price fell 46 cents to $9.53 1/2.
Basis is weaker than the three-year average of 9 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched down 1/4 cent to 63 1/2 cents below March futures. The average cash price dropped 22 1/4 cents to $4.77 3/4. SRW basis is much weaker than the three-year average of 45 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/2 cent to 60 cents below March futures. The average cash price dropped 18 cents to $4.88 3/4. HRW basis is much weaker than the three-year average of 41 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $194.31 last week, up $3.41 from the previous week. Light trade so far this week was at steady/firmer prices. Last year, the cash price was $170.51.
Choice boxed beef firmed $3.61 over the past week to $314.84. Last year at this time, Choice boxed beef prices were $289.13.
HOG COMMENTS
The average lean hog carcass price firmed $1.33 over the past week to $82.26. Last year’s lean carcass price on this date was $64.42.
The pork cutout value firmed $3.48 over the past week to $96.35. Last year at this time, the cutout price stood at $81.36.