CORN COMMENTS
The national average corn basis dropped 1 1/2 cents but remained 8 cents above September futures. The national average cash corn price dropped 22 1/2 cents to $3.90 3/4.
Basis is much weaker than the three-year average of 66 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 16 cents to 27 1/4 cents above November futures. The national average cash price dropped 72 1/4 cents to $10.50.
Basis is much weaker than the three-year average of 81 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 1 3/4 cents to 51 cents below September futures. The average cash price dropped 22 cents to $4.76 1/4. SRW basis is weaker than the three-year average of 39 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 45 cents below September futures. The average cash price dropped 18 1/2 cents to $5.04. HRW basis is weaker than the three-year average of 40 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $195.21 last week, up $1.54 from the previous week. Cash cattle trade will be pushed deep into the week, with most cash sources expecting steady/weaker prices. Last year, the cash price was $186.70.
Choice boxed beef firmed $2.09 over the past week to $314.77. Last year at this time, Choice boxed beef prices were $303.18.
HOG COMMENTS
The average lean hog carcass price firmed $2.58 over the past week to $90.66. Last year’s lean carcass price on this date was $102.29.
The pork cutout value firmed 84 cents over the past week to $105.60. Last year at this time, the cutout price stood at $111.63.