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CORN COMMENTS
The national average corn basis dropped another 19 1/2 cents to 21 1/2 cents below December futures. The national average cash corn price dropped 6 cents to $6.62 1/2.
Basis is weaker than the three-year average of 8 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 22 1/2 cents and is now 9 3/4 cents below November futures. The national average cash price fell another 61 1/2 cents to $13.60.
Basis is better than the three-year average of 19 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 6 cents to 36 1/2 cents under December futures. The average cash price firmed 4 3/4 cents to $8.65 1/2. 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 held at 42 1/2 cents below December futures. The average cash price firmed 14 1/4 cents to $9.47 3/4. HRW basis is weaker than the three-year average of 31 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $144.78 last week, down 16 cents from the previous week. This week’s cash trade is expected to be roughly steady with last week. Last year, the cash price was $122.96.
Choice boxed beef slipped 49 cents over the past week to $247.06. Last year, Choice boxed beef prices were $286.62.
HOG COMMENTS
The average lean hog carcass price dropped $3.03 over the past week to $91.16. Last year’s lean carcass price on this date was $84.38.
The pork cutout value fell $1.48 over the past week to $99.29. Last year at this time, the cutout price stood at $112.86.