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CORN COMMENTS
The national average corn basis fell 5 3/4 cents to stand 8 1/4 cents above March futures. The national average cash corn price fell 31 1/2 cents to $6.49 1/2.
Basis is better than the three-year average of 2 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 1/2 cents to 28 3/4 cents above January futures. The national average cash price was unchanged at $15.00 3/4.
Basis is much better than the three-year average of 3/4 cent over futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 16 1/2 cents to stand 40 cents under March futures. The average cash price dropped 38 1/2 cents to $7.09 1/2. SRW basis is much weaker than the three-year average of 16 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 10 cents to stand 38 1/4 cents below March futures. The average cash price dropped 61 cents to $8.10 1/2. HRW basis is weaker than the three-year average of 30 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $156.42 last week, up 35 cents from the previous week. Cash cattle are expected to trade about steady this week. Last year, the cash price was $139.69.
Choice boxed beef dropped $5.92 over the past week to $248.96. Last year, Choice boxed beef prices were $264.11.
HOG COMMENTS
The average lean hog carcass price dropped 85 cents over the past week to $81.75. Last year’s lean carcass price on this date was $70.88.
The pork cutout value dropped $2.88 over the past week to $84.45. Last year at this time, the cutout price stood at $90.44.