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CORN COMMENTS
The national average corn basis fell 2 3/4 cents over the past week to 1 1/2 cents below March futures. The national average cash corn price firmed 9 3/4 cents to $5.96 3/4.
Basis is basically in line with the three-year average of 2 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 cents over the past week but remains 6 3/4 cents above January futures. The national average cash price firmed 43 1/2 cents on the week to $13.14 3/4.
Basis is much better than the three-year average of 12 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 32 1/2 cents under futures. The average cash price firmed 43 cents to $7.66 1/2. SRW basis is much weaker than the three-year average of 5 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 23 1/4 cents below March futures. The average cash price firmed 56 cents to $8.18 1/4. HRW basis is better than the three-year average of 32 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $137.19 last week, down $2.50 from the previous week. Light cash cattle trade started around $2 lower than last week. Last year at this time, the cash price was $106.75.
Choice boxed beef prices firmed $1.13 over the past week to $261.39. Last year, Choice boxed beef prices were $207.22.
HOG COMMENTS
The average lean hog carcass price firmed 72 cents over the past week to $73.02. Last year’s lean carcass price on this date was $64.97.
The pork cutout value dropped $2.92 over the past week to $84.91. Last year at this time, the cutout price stood at $66.87.