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CORN COMMENTS
The national average corn basis firmed a penny over the past week to 1/4 cent below March futures. The national average cash corn price dropped 1 1/2 cents to $6.02.
Basis is slightly weaker than the three-year average of 2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 2 cents over the past week but remains 2 3/4 cents above March futures. The national average cash price firmed 33 1/2 cents on the week to $13.97 1/2.
Basis is much better than the three-year average of 17 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 cents to 29 3/4 cents under March futures. The average cash price fell 19 3/4 cents to $7.31. SRW basis is much weaker than the three-year average of 2 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis fell 4 1/2 cents to 27 1/2 cents below March futures. The average cash price dropped 39 1/2 cents to $7.59 1/2. HRW basis is slightly better than the three-year average of 29 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $139.59 last week, up $3.95 from the previous week. Light cash cattle trade started around $1 to $2 lower than last week. Last year at this time, the cash price was $111.27.
Choice boxed beef prices firmed $2.27 over the past week to $266.93. Last year, Choice boxed beef prices were $205.27.
HOG COMMENTS
The average lean hog carcass price firmed $2.05 over the past week to $73.87. Last year’s lean carcass price on this date was $62.42.
The pork cutout value dropped 97 cents over the past week to $85.92. Last year at this time, the cutout price stood at $75.44.