CORN COMMENTS
The national average corn basis firmed a penny to 6 3/4 cents below March futures. The national average cash corn price firmed 12 1/4 cents to $4.41 3/4.
Basis is weaker than the three-year average of 1 1/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 3/4 cents to a penny below January futures. The national average cash price firmed 17 3/4 cents to $9.74 1/4.
Basis is weaker than the three-year average of 10 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 3/4 cents to 59 3/4 cents below March futures. The average cash price dropped 2 3/4 cents to $4.75. SRW basis is much weaker than the three-year average of 42 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 6 1/4 cents to 53 3/4 cents below March futures. The average cash price firmed 1 1/4 cents to $4.90. HRW basis is much weaker than the three-year average of 41 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $194.73 last week, up 42 cents from the previous week. Cash cattle trade is expected to be light this week with most cash sources expecting weaker prices. Last year, the cash price was $172.24.
Choice boxed beef firmed $1.14 over the past week to $315.98. Last year at this time, Choice boxed beef prices were $291.48.
HOG COMMENTS
The average lean hog carcass price firmed $1.04 over the past week to $83.30. Last year’s lean carcass price on this date was $63.32.
The pork cutout value dropped $1.73 over the past week to $94.62. Last year at this time, the cutout price stood at $82.52.