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CORN COMMENTS
The national average corn basis dropped 4 1/2 cents over the past week to 12 3/4 cents under December futures. The national average cash corn price firmed 23 cents to $5.27.
Basis is slightly weaker than the three-year average of 11 1/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/4 cents over the past week to stand 9 cents below November futures. The national average cash price firmed 49 cents on the week to $12.36 1/2.
Basis is better than the three-year average of 32 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 3/4 cent to 30 1/4 cents under December futures. The average cash price firmed 30 cents to $7.19. SRW basis is much weaker than the three-year average of 11 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 25 1/2 cents below December futures. The average cash price firmed 38 3/4 cents to $7.34 1/4. HRW basis is better than the three-year average of 34 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $123.84 last week, up 88 cents from the previous week. Light, initial cash trade this week has occurred at steady to slightly firmer prices. Last year at this time, the cash price was $107.52.
Choice boxed beef prices inched a penny higher over the past week to $280.03. Last year, Choice boxed beef prices were $211.14.
HOG COMMENTS
The average lean hog carcass price fell $3.84 over the past week to $85.89. Last year’s lean carcass price on this date was $78.24.
The pork cutout value fell $7.98 over the past week to $96.87. Last year at this time, the cutout price stood at $97.19.