CORN COMMENTS
The national average corn basis firmed 4 cents to 23 cents below December futures. The national average cash corn price dropped 12 1/4 cents to $3.81 3/4.
Basis is weaker than the three-year average of 14 1/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 11 cents to 19 3/4 cents below November futures. The national average cash price dropped 29 1/4 cents to $9.60 1/4.
Basis is slightly weaker than the three-year average of 17 1/2 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 8 1/4 cents to 67 cents below December futures. The average cash price fell 5 3/4 cents to $5.18. SRW basis is much weaker than the three-year average of 49 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 52 3/4 cents below December futures. The average cash price dropped 20 cents to $5.36. HRW basis is weaker than the three-year average of 44 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $187.21 last week, up 32 cents from the previous week. This week’s cash cattle trade remains uncertain, with some expecting higher prices again and others thinking a short-term top is in place. Last year, the cash price was $186.15.
Choice boxed beef jumped another $10.95 over the past week to $319.13. Last year at this time, Choice boxed beef prices were $303.86.
HOG COMMENTS
The average lean hog carcass price dropped 28 cents over the past week to $82.28. Last year’s lean carcass price on this date was $76.73.
The pork cutout value dropped 70 cents over the past week to $94.85. Last year at this time, the cutout price stood at $87.95.