CORN COMMENTS
The national average corn basis firmed 1/2 cent to 9 1/4 cents below March futures. The national average cash corn price rose 6 cents to $4.75.
Basis is much weaker than the three-year average of 4 3/4 cent above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 6 1/4 cents to 11 1/2 cents below March futures. The national average cash price firmed 7 cents to $10.44 1/2.
Basis is much weaker than the three-year average of 5 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 51 cents below March futures. The average cash price firmed 7 cents to $5.03. SRW basis is much weaker than the three-year average of 37 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 58 1/4 cents below March futures. The average cash price firmed 16 3/4 cents to $5.16 1/2. HRW basis is much weaker than the three-year average of 40 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $203.67 last week, up $1.09 from the previous week. Cash cattle are expected to trade at mostly steady prices this week. Last year, the cash price was $175.44.
Choice boxed beef dropped $2.12 over the past week to $332.02. Last year at this time, Choice boxed beef prices were $299.50.
HOG COMMENTS
The average lean hog carcass price firmed 48 cents over the past week to $80.03. Last year’s lean carcass price on this date was $71.29.
The pork cutout value dropped 66 cents over the past week to $90.17. Last year at this time, the cutout price stood at $88.86.