Click here for related charts.
Click
here for Pro Farmer’s Daily Advice Monitor.
CORN COMMENTS
The national average corn basis held at 2 1/2 cents above March futures. The national average cash corn price firmed 36 3/4 cents to $6.86 1/4.
Basis is virtually in line with the three-year average of 3 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 3/4 cents over the past week to stand 1 3/4 cents below March futures. The national average cash price surged 89 1/4 cents on the week to $16.73 1/4.
Basis is better than the three-year average of 9 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 23 3/4 cents under March futures. The average cash price surged 95 1/2 cents to $8.52 1/4. SRW basis is much weaker than the three-year average of 1 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 20 cents below March futures. The average cash price surged $1.05 3/4 to $8.93 1/2. HRW basis is slightly better than the three-year average of 25 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $142.36 last week, up $1.88 from the previous week. This week’s cash trade has been slow to start, but initial prices have been roughly $2 higher. Last year at this time, the cash price was $114.07.
Choice boxed beef prices dropped another $8.74 over the past week to $260.88. Last year, Choice boxed beef prices were $240.75.
HOG COMMENTS
The average lean hog carcass price firmed another $4.81 over the past week to $98.16. Last year’s lean carcass price on this date was $79.13.
The pork cutout value firmed $2.60 over the past week to $109.12. Last year at this time, the cutout price stood at $90.67.