CORN COMMENTS
The national average corn basis firmed 1 1/4 cents to 5 1/2 cents below March futures. The national average cash corn price firmed 11 1/4 cents to $4.53.
Basis is weaker than the three-year average of 1 cent below futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 6 1/4 cents to 7 1/4 cents below March futures. The national average cash price firmed 29 cents to $10.03 1/4.
Basis is much weaker than the three-year average of 7 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 17 1/2 cents to 42 1/4 cents below March futures as multiple locations removed spot delivery bids. The average cash price firmed 34 1/4 cents to $5.09 1/4. SRW basis is better than the three-year average of 44 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 6 1/4 cents to 60 cents below March futures. The average cash price firmed 9 1/4 cents to $4.99 1/4. HRW basis is much weaker than the three-year average of 43 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $194.81 last week, up 8 cents from the previous week. Cash cattle are expected to trade steady to higher this week. Last year, the cash price was $174.01.
Choice boxed beef firmed $8.24 over the past week to $324.22. Last year at this time, Choice boxed beef prices were $282.89.
HOG COMMENTS
The average lean hog carcass price declined 17 cents over the past week to $83.13. Last year’s lean carcass price on this date was $65.20.
The pork cutout value dropped $4.32 over the past week to $90.30. Last year at this time, the cutout price stood at $82.78.