Midweek Cash Markets | June 15, 2022

Corn basis continues to firm. The national average cash price is now just shy of $8.

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CORN COMMENTS

The national average corn basis firmed 4 cents over the past week to 25 1/2 cents above July futures. The national average cash corn price firmed 13 1/2 cents to $7.99 1/2.

Basis is much better than the three-year average of 9 1/2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis weakened a dime over the past week but remains 11 3/4 cents above July futures. The national average cash price fell 56 1/4 cents to $17.05 1/2.

Basis is much stronger than the three-year average of 2 1/4 cents below futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 1 3/4 cents to 49 1/2 cents under July futures. The average cash price dropped 23 cents to $10.00 1/2. 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 firmed 3 1/2 cents to 49 cents below July futures. The average cash price fell 18 1/4 cents to $10.84 1/4. HRW basis is much weaker than the three-year average of 19 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $140.14 last week, up $2.07 from the previous week. This week’s cash trade has occurred at roughly $2 higher prices. Last year at this time, the cash price was $122.84.

Choice boxed beef prices fell $3.50 over the past week to $268.22. Last year, Choice boxed beef prices were $329.17.

HOG COMMENTS

The average lean hog carcass price firmed $1.06 over the past week to $106.46. Last year’s lean carcass price on this date was $119.36.

The pork cutout value firmed $1.32 over the past week to $105.79. Last year at this time, the cutout price stood at $120.52.