CORN COMMENTS
The national average corn basis dropped 2 cents to 18 1/4 cents below December futures. The national average cash corn price dropped 9 1/2 cents to $3.93 1/4.
Basis is weaker than the three-year average of 7 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1/2 cent to 7 3/4 cents below November futures. The national average cash price dropped 20 1/2 cents to $9.68 3/4.
Basis is slightly weaker than the three-year average of 4 1/4 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched up 3/4 cent to 66 cents below December futures. The average cash price dropped 4 1/2 cents to $5.07 1/4. SRW basis is much weaker than the three-year average of 43 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 9 3/4 cents to $5.23. HRW basis is weaker than the three-year average of 42 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $190.05 last week, up $2.44 from the previous week. This week’s cash cattle trade started at generally steady prices. Last year, the cash price was $184.89.
Choice boxed beef dropped $1.97 over the past week to $319.44. Last year at this time, Choice boxed beef prices were $302.18.
HOG COMMENTS
The average lean hog carcass price firmed $1.77 over the past week to $84.40. Last year’s lean carcass price on this date was $74.35.
The pork cutout value firmed $3.35 over the past week to $101.57. Last year at this time, the cutout price stood at $86.50.