CORN COMMENTS
The national average corn basis dropped 4 1/2 cents to 9 3/4 cents below March futures. The national average cash corn price firmed 20 1/4 cents to $4.69.
Basis is weaker than the three-year average of 3 1/2 cent above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 cents to 5 1/4 cents below March futures. The national average cash price firmed 46 1/4 cents to $10.37 1/2.
Basis is weaker than the three-year average of 4 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 1/4 cents to 51 cents below March futures. The average cash price firmed 15 cents to $4.96. SRW basis is much weaker than the three-year average of 38 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 58 1/4 cents below March futures. The average cash price firmed 7 1/2 cents to $4.99 1/4. HRW basis is much weaker than the three-year average of 40 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $202.58 last week, up $3.65 from the previous week. Early cash cattle trade this week was at mostly steady prices. Last year, the cash price was $173.76.
Choice boxed beef firmed $5.53 over the past week to $334.14. Last year at this time, Choice boxed beef prices were $298.45.
HOG COMMENTS
The average lean hog carcass price dropped 22 cents over the past week to $79.55. Last year’s lean carcass price on this date was $68.25.
The pork cutout value firmed 30 cents over the past week to $90.83. Last year at this time, the cutout price stood at $87.96.