CORN COMMENTS
The national average corn basis firmed 1 3/4 cents to 1/4 cent above July futures. The national average cash corn price dropped 14 1/4 cents to $4.39 1/2.
Basis is much weaker than the three-year average of 28 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 cents to 1 1/4 cents below July futures. The national average cash price dropped 34 3/4 cents to $11.76.
Basis is much weaker than the three-year average of 25 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a nickel to 42 cents under July futures. The average cash price dropped 31 cents to $6.14 3/4. SRW basis is much weaker than the three-year average of 28 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 7 3/4 cent to 40 1/2 cents below July futures. The average cash price dropped 35 3/4 cents to $6.35 3/4. HRW basis is weaker than the three-year average of 34 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $188.91 last week, down $1.18 from the previous week. Cash cattle prices are expected to weaken again this week. Last year, the cash price was $188.75.
Choice boxed beef firmed $1.17 over the past week to $314.79. Last year at this time, Choice boxed beef prices were $325.19.
HOG COMMENTS
The average lean hog carcass price firmed 79 cents over the past week to $90.02. Last year’s lean carcass price on this date was $83.38.
The pork cutout value dropped $1.43 over the past week to $100.31. Last year at this time, the cutout price stood at $85.15.