CORN COMMENTS
The national average corn basis firmed 3 3/4 cents to 4 cents above July futures. The national average cash corn price firmed 18 3/4 cents to $4.58 1/4.
Basis is much weaker than the three-year average of 24 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 1/4 cents to a penny above July futures. The national average cash price firmed 2 1/4 cents to $11.78 1/4.
Basis is much weaker than the three-year average of 16 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a dime to 32 cents under July futures. The average cash price dropped 29 3/4 cents to $5.85. SRW basis is weaker than the three-year average of 26 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 2 cents to 42 1/2 cents below July futures. The average cash price fell 41 cents to $5.94 3/4. HRW basis is weaker than the three-year average of 34 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $188.92 last week, up a penny from the previous week. Cash cattle prices are expected to steady/weaker this week. Last year, the cash price was $184.92.
Choice boxed beef firmed $2.81 over the past week to $317.60. Last year at this time, Choice boxed beef prices were $339.06.
HOG COMMENTS
The average lean hog carcass price dropped 42 cents over the past week to $89.60. Last year’s lean carcass price on this date was $85.98.
The pork cutout value dropped $1.30 over the past week to $99.01. Last year at this time, the cutout price stood at $89.68.