CORN COMMENTS
The national average corn basis inched up 1/4 cent to 5 1/4 cents below March futures. The national average cash corn price dropped 4 1/4 cents to $4.48 3/4.
Basis is weaker than the three-year average of 1/4 cent above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 4 cents to 3 1/4 cents below March futures. The national average cash price dropped 12 cents to $9.91 1/4.
Basis is weaker than the three-year average of 6 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 13 cents to 54 1/4 cents below March futures. The average cash price dropped 28 1/4 cents to $4.81. SRW basis is much weaker than the three-year average of 39 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 1 1/2 cents to 58 1/2 cents below March futures. The average cash price dropped 7 3/4 cents to $4.91 3/4. HRW basis is much weaker than the three-year average of 40 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $198.93 last week, up $4.12 from the previous week. Cash cattle are expected to trade firmer again this week. Last year, the cash price was $173.47.
Choice boxed beef firmed $4.39 over the past week to $328.61. Last year at this time, Choice boxed beef prices were $283.07.
HOG COMMENTS
The average lean hog carcass price fell $3.36 over the past week to $79.77. Last year’s lean carcass price on this date was $65.85.
The pork cutout value firmed 23 cents over the past week to $90.53. Last year at this time, the cutout price stood at $86.67.