CORN COMMENTS
The national average corn basis firmed 1 1/2 cents to 11 cents above September futures. The national average cash corn price firmed 3 3/4 cents to $4.09.
Basis is much weaker than the three-year average of 78 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 4 cents but remained 17 cents above August futures. The national average cash price dropped 20 cents to $11.14 1/4.
Basis is weaker than the three-year average of 37 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 48 3/4 cents below September futures. The average cash price dropped 22 1/4 cents to $4.90 1/2. SRW basis is weaker than the three-year average of 34 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 45 cents below September futures. The average cash price dropped 4 1/2 cents to $5.16. HRW basis is weaker than the three-year average of 36 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $194.24 last week, down $2.85 from the previous week’s record high. Light cash cattle trade started at steady prices in the Southern Plains. Last year, the cash price was $186.19.
Choice boxed beef dropped $5.89 over the past week to $318.16. Last year at this time, Choice boxed beef prices were $303.59.
HOG COMMENTS
The average lean hog carcass price dropped 8 cents over the past week to $86.47. Last year’s lean carcass price on this date was $103.28.
The pork cutout value firmed $5.00 from last week to $99.32. Last year at this time, the cutout price stood at $112.61.