CORN COMMENTS
The national average corn basis dropped 2 1/4 cents to 1 1/2 cents below July futures. The national average cash corn price firmed 5 1/2 cents to $4.57.
Basis is much weaker than the three-year average of 30 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis held at 6 3/4 cents below July futures. The national average cash price firmed 57 1/2 cents to $12.21.
Basis is much weaker than the three-year average of 36 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a dime to 48 1/4 cents under July futures. The average cash price firmed 44 3/4 cents to $5.85 3/4. SRW basis is weaker than the three-year average of 35 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/2 cents to 52 1/4 cents below July futures. The average cash price firmed 25 cents to $5.96 1/4. HRW basis is much weaker than the three-year average of 34 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $185.74 last week, up $1.59 from the previous week. Cash cattle trade this week is expected to be steady, possibly firmer. Last year, the cash price was $174.13.
Choice boxed beef firmed $3.13 over the past week to $296.67. Last year at this time, Choice boxed beef prices were $306.87.
HOG COMMENTS
The average lean hog carcass price firmed 45 cents over the past week to $88.75. Last year’s lean carcass price on this date was $74.88.
The pork cutout value firmed $1.30 over the past week to $99.29. Last year at this time, the cutout price stood at $81.74.