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CORN COMMENTS
The national average corn basis firmed 13 cents to 8 cents below December futures. The national average cash corn price dropped 1 3/4 cents to $6.70 1/4.
Basis is basically in line with the three-year average of 7 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 8 cents to 7 3/4 cents below November futures. The national average cash price dropped 15 1/2 cents to $13.64 3/4.
Basis is better than the three-year average of 17 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis weakened 7 1/4 cents to 43 cents under December futures as several locations pulled their old-crop wheat bid. The average cash price fell 48 1/4 cents to $7.98 1/4. SRW basis is much weaker than the three-year average of 15 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 1/4 cents to 40 1/4 cents below December futures. The average cash price dropped 26 cents to $9.01 1/2. HRW basis is weaker than the three-year average of 30 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $146.99 last week, up 76 cents from the previous week. Cash cattle trade is expected to be at least $1 to $2 higher this week, with early trade up around $2. Last year, the cash price was $124.39.
Choice boxed beef firmed $6.73 over the past week to $253.39. Last year, Choice boxed beef prices were $280.03.
HOG COMMENTS
The average lean hog carcass price firmed 62 cents over the past week to $91.54. Last year’s lean carcass price on this date was $77.37.
The pork cutout value dropped $2.64 over the past week to $101.30. Last year at this time, the cutout price stood at $96.87.