CORN COMMENTS
The national average corn basis dropped 1 3/4 cents to 21 1/2 cents below December futures. The national average cash corn price dropped 9 3/4 cents to $3.83 1/4.
Basis is much weaker than the three-year average of 26 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 9 3/4 cents to 30 1/4 cents below November futures. The national average cash price fell 30 3/4 cents to $9.70 1/4.
Basis is much weaker than the three-year average of 35 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 4 1/4 cents to 67 3/4 cents below December futures. The average cash price dropped 5 3/4 cents to $5.11 1/2. SRW basis is weaker than the three-year average of 56 cents under futures.
The national average hard red winter (HRW) wheat basis held at 56 1/4 cents below December futures. The average cash price dropped 4 3/4 cents to $5.32. HRW basis is weaker than the three-year average of 45 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $181.18 last week, down $2.63 from the previous week. Cash cattle are expected to trade steady to possibly higher this week. Last year, the cash price was $184.04.
Choice boxed beef dropped $4.24 over the past week to $307.36. Last year at this time, Choice boxed beef prices were $307.55.
HOG COMMENTS
The average lean hog carcass price dropped 53 cents over the past week to $83.58. Last year’s lean carcass price on this date was $84.61.
The pork cutout value fell $2.38 over the past week to $92.91. Last year at this time, the cutout price stood at $98.22.