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CORN COMMENTS
The national average corn basis dropped 2 3/4 cents but remained 7 1/4 cents above March futures. The national average cash corn price firmed 22 1/2 cents to $6.88 1/2.
Basis is better than the three-year average of 4 1/2 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 3 3/4 cents but remained 11 cents above March futures. The national average cash price firmed 27 3/4 cents to $15.35 1/2.
Basis is much better than the three-year average of 2 1/4 cent under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped firmed 3/4 cent to 27 cents under March futures. The average cash price firmed 2 1/2 cents to $7.15 1/2. SRW basis is much weaker than the three-year average of 10 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 37 3/4 cents below March futures. The average cash price firmed 20 cents to $8.03 3/4. HRW basis is weaker than the three-year average of 28 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $156.78 last week, down 96 cents from the previous week. Cash cattle are expected to trade about steady this week. Last year, the cash price was $137.50.
Choice boxed beef dropped $6.65 over the past week to $274.08. Last year at this time, Choice boxed beef prices were $291.60.
HOG COMMENTS
The average lean hog carcass price dropped $2.69 over the past week to $72.51. Last year’s lean carcass price on this date was $77.53.
The pork cutout value dropped $2.79 over the past week to $77.89. Last year at this time, the cutout price stood at $95.47.